Insider Selling: SEI Investments Company (NASDAQ:SEIC) Insider Sells 5,000 Shares of Stock

Key Points

• SEI Investments Company insider Mark Andrew Warner sold 5,000 shares at an average price of $88.75, resulting in a total transaction value of $443,750, which represents a 79.37% decrease in their ownership.
• The company recently reported quarterly earnings of $1.78 per share, significantly exceeding the consensus estimate of $1.18, with a revenue of $559.60 million.
• SEI Investments announced an increase in its quarterly dividend from $0.46 to $0.49 per share, resulting in an annualized dividend of $1.96 and a yield of 2.22%.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SEI Investments Trading Down 1.9%

SEI Investments stock traded down $1.67 during trading on Friday, reaching $86.45. The company had a trading volume of 972,185 shares, compared to its average volume of 941,658. SEI Investments Company has a 52 week low of $62.38 and a 52 week high of $93.96. The firm's 50-day simple moving average is $88.02 and its 200 day simple moving average is $82.10. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The business's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.3%. SEI Investments's payout ratio is presently 18.39%.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after acquiring an additional 60,307 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SEI Investments by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock valued at $134,487,000 after purchasing an additional 111,065 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of SEI Investments by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager's stock valued at $123,079,000 after purchasing an additional 44,195 shares during the last quarter. FMR LLC lifted its holdings in shares of SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SEI Investments by 20.9% during the 4th quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after purchasing an additional 184,339 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the topic of several research analyst reports. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler lowered their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Oppenheimer upped their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $102.00.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.