SEI Investments (NASDAQ:SEIC) Insider Sells $2,621,483.28 in Stock

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the sale, the insider directly owned 54,884 shares of the company’s stock, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, August 5th, Philip Mccabe sold 5,043 shares of SEI Investments stock. The stock was sold at an average price of $105.50, for a total transaction of $532,036.50.

SEI Investments Stock Performance

Shares of SEIC opened at $104.70 on Friday. The company has a 50-day simple moving average of $94.42 and a 200-day simple moving average of $87.34. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $12.57 billion, a PE ratio of 18.47 and a beta of 0.96. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $107.00.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping 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 firm had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Equities research analysts predict that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SEIC shares. UBS Group restated a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Raymond James Financial boosted their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Buy” and an average target price of $122.60.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SEIC. Elevation Wealth Partners LLC grew its holdings in SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new stake in shares of SEI Investments in the first quarter valued at $43,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.