Carl Guarino Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments Company (NASDAQ:SEIC) Director Carl Guarino sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the transaction, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. This trade represents a 35.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $102.98 on Friday. The business has a 50-day simple moving average of $92.90 and a 200 day simple moving average of $86.68. SEI Investments Company has a one year low of $75.08 and a one year high of $104.47. 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 firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 18.16 and a beta of 0.97.

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

SEI Investments Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SEIC shares. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Raymond James Financial increased their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Finally, Morgan Stanley raised their target price on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $122.60.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently made changes to their positions in SEIC. Elevation Wealth Partners LLC grew its position in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares in the last quarter. Allworth Financial LP lifted its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares in the last quarter. Root Financial Partners LLC boosted 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 worth $38,000 after buying an additional 141 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of SEI Investments by 44.6% in the 2nd quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.