SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke Sells 10,000 Shares

SEI Investments (NASDAQ:SEIC) CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

SEI Investments Price Performance

Shares of SEIC traded up $0.39 during trading hours on Tuesday, hitting $76.20. The company’s stock had a trading volume of 730,608 shares, compared to its average volume of 587,813. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.43 and a beta of 0.99. The business has a 50 day simple moving average of $69.12 and a two-hundred day simple moving average of $67.41. SEI Investments has a 52-week low of $52.95 and a 52-week high of $76.51.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. Research analysts predict that SEI Investments will post 4.38 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in SEI Investments during the 1st quarter worth approximately $14,172,000. Jupiter Asset Management Ltd. purchased a new stake in SEI Investments in the 2nd quarter worth approximately $7,787,000. West Coast Financial LLC lifted its stake in SEI Investments by 120.8% in the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in SEI Investments by 67.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after purchasing an additional 58,808 shares during the period. Institutional investors own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.