SEI Investments (NASDAQ:SEIC) Insider Sells 24,957 Shares of Stock

Key Points

• Insider sale: Philip Mccabe sold 24,957 SEI Investments shares for approximately $2.62 million at an average price of $105.04, reducing his position by 31.26%. He also sold an additional 5,043 shares the following day.
• Strong quarterly results: SEI reported adjusted EPS of $1.66, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• Positive market outlook: Analysts maintain a consensus “Buy” rating with an average price target of $122.60, compared with the stock’s recent price of $104.69.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) insider Philip Mccabe sold 24,957 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total value of $2,621,483.28. Following the transaction, the insider owned 54,884 shares of the company's stock, valued at $5,765,015.36. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $0.07 during midday trading on Thursday, reaching $104.69. The company's stock had a trading volume of 583,492 shares, compared to its average volume of 801,833. The business's fifty day simple moving average is $93.76 and its 200-day simple moving average is $87.08. 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 Company has a fifty-two week low of $75.08 and a fifty-two week high of $107.00. The company has a market capitalization of $12.56 billion, a P/E ratio of 18.46 and a beta of 0.96.

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 (EPS) 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 company had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same period in the prior year, the company posted $1.78 EPS. The company's revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts expect that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently added to or reduced their stakes in SEIC. Elevation Wealth Partners LLC raised its position in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock valued at $27,000 after purchasing an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. CX Institutional raised its holdings in shares of SEI Investments by 44.6% during the 2nd quarter. CX Institutional now owns 532 shares of the asset manager's stock worth $47,000 after buying an additional 164 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in 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 buying an additional 200 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SEIC. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. UBS Group reiterated a "buy" rating and issued a $125.00 price target on shares of SEI Investments in a research note on Thursday, July 23rd. Zacks Research raised shares of SEI Investments from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Finally, Piper Sandler upped their target price on shares of SEI Investments from $114.00 to $120.00 and gave the company an "overweight" 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 company's stock. According to MarketBeat.com, SEI Investments has a consensus rating of "Buy" and a consensus target price of $122.60.

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.

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