SEI Investments (SEIC) Hits New 12-Month Low Following Insider Selling

SEI Investments (NASDAQ:SEIC)’s share price reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The company traded as low as $49.57 and last traded at $50.89, with a volume of 66538 shares changing hands. The stock had previously closed at $51.31.

Specifically, major shareholder Alfred P. West, Jr. sold 145,238 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $52.76, for a total value of $7,662,756.88. Following the completion of the sale, the insider now directly owns 10,386,713 shares of the company’s stock, valued at $548,002,977.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis Mcgonigle sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $51.63, for a total transaction of $774,450.00. Following the completion of the sale, the director now directly owns 592,034 shares of the company’s stock, valued at $30,566,715.42. The disclosure for this sale can be found here. Insiders sold 521,226 shares of company stock valued at $27,829,995 over the last three months. Insiders own 16.50% of the company’s stock.

Several analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $68.00 to $63.00 in a report on Wednesday, October 24th. Rosenblatt Securities started coverage on shares of SEI Investments in a report on Wednesday. They set a “neutral” rating and a $59.00 price objective for the company. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, October 26th. BidaskClub raised shares of SEI Investments from a “strong sell” rating to a “sell” rating in a report on Saturday, October 27th. Finally, ValuEngine downgraded shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.83.

The firm has a market capitalization of $7.98 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Tuesday, October 23rd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.04. The business had revenue of $408.68 million during the quarter, compared to the consensus estimate of $410.35 million. SEI Investments had a net margin of 31.46% and a return on equity of 30.73%. SEI Investments’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. As a group, sell-side analysts predict that SEI Investments will post 3.19 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Loomis Sayles & Co. L P raised its stake in SEI Investments by 1.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 16,422,058 shares of the asset manager’s stock valued at $1,003,388,000 after purchasing an additional 215,419 shares during the last quarter. BlackRock Inc. raised its stake in SEI Investments by 3.6% during the 3rd quarter. BlackRock Inc. now owns 13,870,716 shares of the asset manager’s stock valued at $847,500,000 after purchasing an additional 485,625 shares during the last quarter. Bank of America Corp DE raised its stake in SEI Investments by 3.2% during the 2nd quarter. Bank of America Corp DE now owns 4,234,934 shares of the asset manager’s stock valued at $264,767,000 after purchasing an additional 131,166 shares during the last quarter. Bank of New York Mellon Corp raised its stake in SEI Investments by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,852,116 shares of the asset manager’s stock valued at $113,164,000 after purchasing an additional 41,307 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in SEI Investments by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 1,667,151 shares of the asset manager’s stock valued at $104,230,000 after purchasing an additional 6,923 shares during the last quarter. 69.31% of the stock is owned by institutional investors and hedge funds.

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About SEI Investments (NASDAQ:SEIC)

SEI Investments Co 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.

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