SEI Investments (NASDAQ:SEIC) Insider Sells 20,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) insider Sanjay Sharma sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the sale, the insider directly owned 39,829 shares in the company, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SEI Investments Price Performance

Shares of NASDAQ SEIC traded up $1.62 during mid-day trading on Tuesday, reaching $103.14. The company’s stock had a trading volume of 871,066 shares, compared to its average volume of 809,752. The firm has a market capitalization of $12.40 billion, a PE ratio of 18.19 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The stock has a fifty day moving average of $91.90 and a two-hundred day moving average of $86.23. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $103.75.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter last year, the company earned $1.78 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Institutional Trading of SEI Investments

Several hedge funds have recently made changes to their positions in the business. Bison Wealth LLC purchased a new stake in SEI Investments during the fourth quarter valued at approximately $207,000. Baird Financial Group Inc. purchased a new position in shares of SEI Investments in the 1st quarter worth approximately $201,000. Geneos Wealth Management Inc. boosted its holdings in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. M&T Bank Corp increased its position in shares of SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 341 shares during the last quarter. Finally, CW Advisors LLC bought a new position in shares of SEI Investments during the 2nd quarter valued at approximately $280,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEIC. UBS Group reaffirmed a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler upped their price objective on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $122.60.

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.