SEI Investments Co. (NASDAQ:SEIC) Executive Chairman Alfred P. West Jr. has sold a total of 71,582 shares of the company's common stock, according to recent SEC filings. The transactions, which took place on August 23 and August 26, resulted in proceeds exceeding $4.8 million.
The first sale on August 23 involved 27,419 shares at an average price of $67.48, while the second sale on August 26 saw 44,163 shares sold at an average price of $67.55. The exact price range for these sales was between $67.24 and $68.12, as noted in the footnotes of the filing. Following these transactions, West still holds a significant amount of SEI Investments stock, with 7,605,414 shares remaining in his possession.
SEI Investments, based in Oaks, Pennsylvania, operates in the securities brokerage industry and provides financial services. The recent stock sales by West represent a notable change in his holdings, yet he continues to maintain a substantial stake in the company.
Investors often monitor insider transactions as they can provide insights into how executives perceive the company's value and future prospects. The filings did not specify the reason for the sales, but they were executed in a manner that complies with SEC regulations.
For further details on these transactions, interested parties can refer to the SEC's Form 4 filing, which provides transparency on the trades made by the company's insiders.
In other recent news, SEI Investments revealed notable earnings per share (EPS) of $1.05 and robust revenue of $519 million in Q2 2024. This was accompanied by an announcement of an enhanced integration with Canoe Intelligence aimed at improving operational efficiency for family offices. The integration automates the transmission of private equity and hedge fund valuations, enhancing the end-to-end alternatives investment experience.
SEI also announced the appointment of Michael Lane as Executive Vice President and Head of Asset in North America. Lane's extensive experience in the financial services industry is expected to drive growth and expansion for the company. These recent developments highlight SEI's commitment to growth and innovation in the financial industry.
Piper Sandler, in response to SEI's Q2 earnings, revised its outlook on the company, reducing the stock's price target to $71 from the previous $72 while maintaining a neutral stance. The firm also adjusted its earnings per share (EPS) estimates for the years 2024 and 2025 due to a slight earnings miss in the recent financial disclosure.
SEI's focus on expanding its Registered Investment Advisor (RIA) segment, inorganic growth opportunities, and technological advancements significantly contributed to its financial outcomes. Despite a slight decrease in Q2 revenue for the RIA segment, the company remains steady with 61 advisers. SEI Investments aims to be a premier destination for talent and recapture its influential position in the industry.
InvestingPro Insights
Amidst the recent insider transactions at SEI Investments Co. (NASDAQ:SEIC), the company's financial health and performance metrics provide a broader context for investors. SEI Investments has demonstrated a strong track record of financial stability, which can be seen through various metrics and InvestingPro Tips.
With a market capitalization of $8.71 billion and a price-to-earnings (P/E) ratio of 17.14 for the last twelve months as of Q2 2024, SEI Investments appears to be trading at a valuation that is aligned with its near-term earnings growth. The company's P/E ratio is complemented by a PEG ratio of 0.59, suggesting that the stock may be undervalued when factoring in its earnings growth potential.
InvestingPro Tips highlight that SEI Investments has raised its dividend for 10 consecutive years, indicating a commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for an impressive 37 consecutive years, which may appeal to income-focused investors. Furthermore, two analysts have revised their earnings estimates upwards for the upcoming period, reflecting optimism about the company's future financial performance.
On the liquidity front, SEI Investments holds the advantage of having liquid assets that exceed its short-term obligations. This financial cushion suggests that the company is well-positioned to meet its immediate financial commitments without strain.
For those seeking more insights, there are additional InvestingPro Tips available, which can be accessed through the dedicated product page for SEI Investments at InvestingPro. As of the latest update, there are a total of 8 InvestingPro Tips that can provide investors with a deeper understanding of SEIC's financial standing and future prospects.
Investors considering SEI Investments Co. as part of their portfolio may find these insights and data points particularly valuable when evaluating the company's stock, especially in light of the recent insider transactions.
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