Sanjay Sharma Sells 20,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments Company (NASDAQ:SEIC) insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the transaction, the insider directly owned 39,829 shares in the company, valued at $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SEI Investments Stock Performance

Shares of SEIC stock opened at $102.88 on Thursday. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 18.14 and a beta of 0.97. The stock has a fifty day moving average of $92.38 and a 200 day moving average of $86.45. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $104.47. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same period in the previous year, the firm earned $1.78 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s payout ratio is currently 18.34%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after purchasing an additional 133,057 shares during the period. Geode Capital Management LLC increased its stake in shares of SEI Investments by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after purchasing an additional 308,988 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after purchasing an additional 20,054 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock worth $143,025,000 after purchasing an additional 21,731 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEIC has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Piper Sandler lifted their price target on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $122.60.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.