SEI Investments (NASDAQ:SEIC) Director Kathryn Mccarthy Sells 10,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the transaction, the director owned 77,883 shares of the company’s stock, valued at $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SEI Investments Trading Up 0.5%

Shares of NASDAQ:SEIC traded up $0.53 on Tuesday, hitting $104.72. The company had a trading volume of 725,571 shares, compared to its average volume of 804,748. The firm’s 50-day simple moving average is $93.18 and its two-hundred day simple moving average is $86.82. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 18.47 and a beta of 0.96. 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 Company has a 1 year low of $75.08 and a 1 year high of $105.53.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. During the same quarter in the previous year, the company earned $1.78 earnings per share. SEI Investments’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were issued 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 dividend payout ratio is 18.34%.

Hedge Funds Weigh In On SEI Investments

Large investors have recently made changes to their positions in the business. Commerce Bank boosted its holdings in shares of SEI Investments by 1.3% in the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock valued at $825,000 after acquiring an additional 133 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of SEI Investments by 1.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock worth $981,000 after acquiring an additional 141 shares during the period. Root Financial Partners LLC raised its holdings in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of SEI Investments by 1.2% during the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock worth $965,000 after purchasing an additional 149 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 152 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. 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. Morgan Stanley increased their price objective on 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 raised their price objective on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $122.60.

SEI Investments Company Profile

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.