Insider Selling: SEI Investments (NASDAQ:SEIC) Director Sells $1,035,300.00 in Stock

SEI Investments Company (NASDAQ:SEIC) Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the transaction, the director owned 77,883 shares in the company, valued at $8,063,226.99. This trade represents a 11.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SEI Investments Stock Down 0.1%

SEIC stock opened at $104.69 on Friday. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96. The company has a 50-day moving average of $94.08 and a two-hundred day moving average of $87.21. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $107.00. 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 (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 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 business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current year.

SEI Investments Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SEIC. Bank of New York Mellon Corp bought a new stake in SEI Investments in the second quarter valued at $78,430,000. Norges Bank acquired a new stake in shares of SEI Investments in the 4th quarter valued at $53,548,000. Clark Capital Management Group Inc. boosted its stake in shares of SEI Investments by 2,333.2% in the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock valued at $52,973,000 after purchasing an additional 619,315 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of SEI Investments in the 4th quarter worth about $43,186,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of SEI Investments by 82.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after purchasing an additional 346,696 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Piper Sandler increased their price target 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. Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.