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

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

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.39 during trading hours on Tuesday, reaching $76.20. The company’s stock had a trading volume of 730,608 shares, compared to its average volume of 587,813. The firm has a market capitalization 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 firm has a 50-day simple moving average of $69.12 and a 200-day simple moving average of $67.41. SEI Investments has a 1 year low of $52.95 and a 1 year high of $76.51.

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

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

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

Institutional Trading of SEI Investments

A number of institutional investors have recently made changes to their positions in SEIC. Dimensional Fund Advisors LP raised its holdings in SEI Investments by 19.2% during the 2nd 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 last quarter. Bank of New York Mellon Corp raised its stake in shares of SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after acquiring an additional 36,810 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 shares during the period. ProShare Advisors LLC grew its stake in shares of SEI Investments by 0.6% in the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock worth $30,082,000 after purchasing an additional 2,698 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in SEI Investments by 1.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after purchasing an additional 4,656 shares during the period. Hedge funds and other 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.