SEI Investments (NASDAQ:SEIC) EVP Paul Klauder Sells 2,000 Shares

SEI Investments (NASDAQ:SEIC) EVP Paul Klauder sold 2,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $69.80, for a total value of $139,600.00. Following the completion of the sale, the executive vice president now owns 20,752 shares of the company’s stock, valued at approximately $1,448,489.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.41 during trading hours on Thursday, hitting $72.43. 146,436 shares of the company’s stock traded hands, compared to its average volume of 586,869. The firm has a market cap of $9.51 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.47 and a beta of 1.01. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.46. The stock’s fifty day moving average price is $67.06 and its two-hundred day moving average price is $62.11.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The firm had revenue of $484.86 million for the quarter, compared to analyst estimates of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, equities research analysts predict that SEI Investments will post 4 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase plan on Friday, December 15th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SEIC. American Century Companies Inc. raised its position in SEI Investments by 19.8% during the first quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock valued at $1,337,000 after buying an additional 3,666 shares during the period. Private Advisor Group LLC increased its position in SEI Investments by 15.3% in the 1st quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock worth $290,000 after purchasing an additional 639 shares during the last quarter. Bank of Montreal Can increased its position in SEI Investments by 18.5% in the 1st quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock worth $6,230,000 after purchasing an additional 15,773 shares during the last quarter. Panagora Asset Management Inc. increased its position in SEI Investments by 11.3% in the 1st quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock worth $1,151,000 after purchasing an additional 1,943 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in SEI Investments by 9.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock worth $2,322,000 after purchasing an additional 3,424 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Piper Sandler upped their target price on SEI Investments from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Oppenheimer upped their target price on SEI Investments from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Finally, Morgan Stanley upped their target price on SEI Investments from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Friday, December 1st. 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.00.

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.