SEI Investments (NASDAQ:SEIC) Insider Philip Mccabe Sells 5,043 Shares

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 5,043 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total transaction of $532,036.50. Following the completion of the sale, the insider owned 54,884 shares of the company’s stock, valued at $5,790,262. The trade was a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 Price Performance

Shares of SEIC stock opened at $104.69 on Friday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $107.00. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $94.08 and its 200-day moving average is $87.21. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share 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 during the quarter, compared to analyst estimates of $636.35 million. During the same quarter last year, the business posted $1.78 earnings per share. SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. UBS Group restated a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Finally, Piper Sandler raised their target price on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $122.60.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently modified their holdings of the business. Elevation Wealth Partners LLC increased its stake in SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SEI Investments by 353.1% during 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 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 acquiring an additional 141 shares during the period. CX Institutional lifted its position in SEI Investments by 44.6% in the 2nd quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 164 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in SEI Investments by 60.2% in the 1st 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. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.