Insider Selling: SEI Investments (NASDAQ:SEIC) Director Sells 10,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. The trade was a 11.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SEI Investments Trading Down 0.3%

SEIC stock traded down $0.28 during midday trading on Monday, hitting $85.42. The company had a trading volume of 671,464 shares, compared to its average volume of 833,306. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The stock’s 50 day moving average price is $88.03 and its 200 day moving average price is $83.85. The stock has a market cap of $10.56 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.30 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadence Bank lifted its holdings in shares of SEI Investments by 1.2% during the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after purchasing an additional 121 shares in the last quarter. Ethic Inc. lifted its holdings in shares of SEI Investments by 3.0% during the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after purchasing an additional 133 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of SEI Investments by 12.0% during the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 141 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in SEI Investments by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock valued at $435,000 after acquiring an additional 160 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock valued at $1,180,000 after acquiring an additional 183 shares during the period. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James Financial upped their target price on SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Piper Sandler decreased their target price on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, July 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Finally, Oppenheimer upped their target price on SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus price target of $105.00.

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.