SEI Investments (NASDAQ:SEIC) EVP Michael Peterson Sells 10,000 Shares

SEI Investments (NASDAQ:SEIC) EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total transaction of $791,400.00. Following the sale, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Peterson also recently made the following trade(s):

• On Friday, October 25th, Michael Peterson sold 25,000 shares of SEI Investments stock. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00.

SEI Investments Price Performance

NASDAQ:SEIC traded down $0.06 on Friday, hitting $80.11. 321,216 shares of the company’s stock were exchanged, compared to its average volume of 589,482. The firm has a 50-day moving average price of $70.69 and a 200-day moving average price of $67.98. The company has a market cap of $10.33 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. SEI Investments has a 52 week low of $55.64 and a 52 week high of $80.81.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the prior year, the firm earned $0.87 EPS. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts expect that SEI Investments will post 4.38 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On SEI Investments

A number of institutional investors have recently made changes to their positions in SEIC. SG Americas Securities LLC acquired a new stake in SEI Investments in the 2nd quarter worth about $1,434,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SEI Investments by 20.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after acquiring an additional 10,670 shares during the period. Russell Investments Group Ltd. raised its holdings in SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock valued at $8,296,000 after acquiring an additional 20,533 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of SEI Investments during the 1st quarter valued at $14,172,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of SEI Investments by 400.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,919 shares of the asset manager’s stock worth $1,648,000 after purchasing an additional 18,342 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note 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 report on Thursday, July 25th. Oppenheimer upped their price objective 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. Finally, Morgan Stanley lifted their price objective on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Company Profile

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.