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

Key Points

• Director Kathryn Mccarthy sold 10,000 SEI Investments shares at an average price of $103.53, generating $1.04 million. Her remaining stake fell 11.38% to 77,883 shares.
• SEI Investments reported quarterly EPS of $1.66, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million. The stock traded near its 12-month high at $104.72.
• Analysts remain broadly bullish, with the company holding an average “Buy” rating and a consensus price target of $122.60; institutional investors own 70.59% of the stock.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the sale, the director owned 77,883 shares of the company's stock, valued at $8,063,226.99. The trade was a 11.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SEI Investments Price Performance

NASDAQ SEIC traded up $0.53 on Tuesday, reaching $104.72. 725,571 shares of the company's stock traded hands, compared to its average volume of 804,748. The stock has a market cap of $12.57 billion, a PE ratio of 18.47 and a beta of 0.96. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $105.53. The stock has a 50-day simple moving average of $93.18 and a 200 day simple moving average of $86.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share 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 during the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the business posted $1.78 EPS. The business's quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts predict that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

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

Wall Street Analysts Forecast Growth

SEIC has been the topic of several analyst reports. Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Zacks Research upgraded SEI Investments from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Morgan Stanley lifted their price target on SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $122.60.

Institutional Trading of SEI Investments

A number of institutional investors have recently modified their holdings of SEIC. Bank of America Corp DE raised its position in SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock valued at $284,015,000 after purchasing an additional 133,057 shares during the last quarter. Geode Capital Management LLC grew its position in shares of SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock worth $237,421,000 after buying an additional 109,974 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of SEI Investments by 19.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock worth $157,263,000 after buying an additional 308,988 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager's stock valued at $146,984,000 after buying an additional 20,054 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of SEI Investments by 1.2% during the first quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager's stock valued at $143,025,000 after acquiring an additional 21,731 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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