Insider Selling: SEI Investments (NASDAQ:SEIC) Insider Sells $532,036.50 in Stock

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 5,043 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total value of $532,036.50. Following the completion of the sale, the insider directly owned 54,884 shares of the company’s stock, valued at $5,790,262. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, August 4th, Philip Mccabe sold 24,957 shares of SEI Investments stock. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $104.70 on Friday. The stock’s fifty day moving average is $94.42 and its 200 day moving average is $87.34. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $107.00. The firm has a market capitalization of $12.57 billion, a PE ratio of 18.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $636.35 million. During the same period last year, the company earned $1.78 earnings per share. SEI Investments’s revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $122.60.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in SEI Investments in the 2nd quarter worth about $870,745,000. Bank of America Corp DE boosted its holdings in shares of SEI Investments by 4.4% in the second 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 period. Geode Capital Management LLC grew its stake in SEI Investments by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after purchasing an additional 308,988 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in SEI Investments by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after purchasing an additional 20,054 shares during the period. Institutional investors own 70.59% of the company’s stock.

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.