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

Key Points

• SEI Investments insider Philip Mccabe sold 5,043 shares at an average price of $105.50, generating $532,036.50; he retained 54,884 shares. He also sold 24,957 shares the previous day for approximately $2.62 million.
• SEI Investments exceeded quarterly expectations, reporting $1.66 in EPS versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and a $122.60 target price, while institutional investors own approximately 70.59% of the company.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) insider Philip Mccabe sold 5,043 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total transaction of $532,036.50. Following the sale, the insider owned 54,884 shares in the company, valued at approximately $5,790,262. The trade was a 8.42% decrease in their position. The transaction was disclosed in a document filed 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 Price Performance

Shares of NASDAQ SEIC traded down $0.07 during midday trading on Thursday, reaching $104.69. The stock had a trading volume of 583,492 shares, compared to its average volume of 801,833. The stock has a 50-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. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $107.00.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its 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. The company had revenue of $641.62 million for the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments's revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. As a group, research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research upgraded SEI Investments from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $122.60.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in SEI Investments in the second quarter worth approximately $78,430,000. Norges Bank bought a new position in shares of SEI Investments during the 4th quarter worth $53,548,000. Clark Capital Management Group Inc. increased its stake in shares of SEI Investments by 2,333.2% during the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager's stock valued at $52,973,000 after buying an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of SEI Investments in the fourth quarter valued at about $43,186,000. Finally, Qube Research & Technologies Ltd lifted its stake in SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager's stock worth $65,061,000 after acquiring an additional 346,696 shares during the period. 70.59% of the stock is 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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