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

SEI Investments Company (NASDAQ:SEIC) insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SEI Investments Trading Up 1.6%

Shares of SEI Investments stock traded up $1.62 during trading on Tuesday, hitting $103.14. The stock had a trading volume of 871,066 shares, compared to its average volume of 809,752. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $103.75. 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’s fifty day simple moving average is $91.90 and its 200-day simple moving average is $86.23. The stock has a market cap of $12.40 billion, a PE ratio of 18.19 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating the consensus estimate 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 firm posted $1.78 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts expect that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given 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 payout ratio is 18.34%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted 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. UBS Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler lifted their target price on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $122.60.

Institutional Trading of SEI Investments

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in SEI Investments during the 4th quarter worth $53,548,000. Clark Capital Management Group Inc. grew its position in shares of SEI Investments by 2,333.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock worth $52,973,000 after buying an additional 619,315 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of SEI Investments during the 4th quarter worth $43,186,000. Qube Research & Technologies Ltd increased its stake in shares of SEI Investments by 82.5% during the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after buying an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec increased its stake in shares of SEI Investments by 31.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after buying an additional 317,703 shares during the period. 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.