Insider Selling: SEI Investments (NASDAQ:SEIC) Insider Sells $532,036.50 in Stock

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 5,043 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total transaction of $532,036.50. Following the completion of the transaction, the insider owned 54,884 shares of the company’s stock, valued at $5,790,262. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Philip Mccabe also recently made the following trade(s):

• On Tuesday, August 4th, Philip Mccabe sold 24,957 shares of SEI Investments stock. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28.

SEI Investments Stock Down 0.1%

NASDAQ:SEIC traded down $0.07 during mid-day trading on Thursday, hitting $104.69. 583,492 shares of the company’s stock traded hands, compared to its average volume of 801,833. The company has a fifty day moving average of $93.76 and a 200 day moving average of $87.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $107.00. The company has a market capitalization of $12.56 billion, a P/E ratio of 18.46 and a beta of 0.96.

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

SEI Investments Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SEIC shares. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler raised their target price on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Morgan Stanley increased their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial raised their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $122.60.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC boosted 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 worth $27,000 after acquiring an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares during the last quarter. Root Financial Partners LLC raised its holdings in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new position in shares of SEI Investments during the 1st quarter worth approximately $43,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.