Insider Selling: SEI Investments (NASDAQ:SEIC) Insider Sells $2,621,483.28 in Stock

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the completion of the transaction, the insider owned 54,884 shares of the company’s stock, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, August 5th, Philip Mccabe sold 5,043 shares of SEI Investments stock. The stock was sold at an average price of $105.50, for a total transaction of $532,036.50.

SEI Investments Trading Down 0.1%

SEIC traded down $0.07 during trading on Thursday, reaching $104.69. 583,492 shares of the company’s stock were exchanged, compared to its average volume of 801,833. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a one year low of $75.08 and a one year high of $107.00. The firm has a fifty day moving average price of $93.76 and a two-hundred day moving average price of $87.08. The stock has a market capitalization of $12.56 billion, a PE ratio of 18.46 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly 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. The firm had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, equities research analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SEIC shares. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. UBS Group reissued a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Piper Sandler raised their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” 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 issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.60.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in SEI Investments in the second quarter worth $78,430,000. Focus Partners Advisor Solutions LLC bought a new stake in SEI Investments in the second quarter valued at $670,000. State of Wyoming acquired a new position in shares of SEI Investments during the second quarter valued at about $303,000. Harrell Investment Partners LLC raised its holdings in shares of SEI Investments by 2.6% during the second quarter. Harrell Investment Partners LLC now owns 9,707 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 247 shares during the period. Finally, Elevation Wealth Partners LLC boosted its position in shares of SEI Investments by 96.8% during 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. Institutional investors and hedge funds 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.