Insider Selling: SEI Investments (NASDAQ:SEIC) Director Sells $1,031,900.00 in Stock

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

SEI Investments Stock Up 0.2%

SEIC stock traded up $0.16 during mid-day trading on Thursday, hitting $103.04. The stock had a trading volume of 505,216 shares, compared to its average volume of 806,526. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $104.47. The company has a fifty day moving average of $92.38 and a 200 day moving average of $86.45. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 18.17 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, beating the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million during 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 firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. On average, equities analysts expect that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Dividend Announcement

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

Institutional Investors Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harrell Investment Partners LLC boosted its position in SEI Investments by 2.6% during the second quarter. Harrell Investment Partners LLC now owns 9,707 shares of the asset manager’s stock worth $851,000 after purchasing an additional 247 shares during the period. Elevation Wealth Partners LLC grew its holdings in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in SEI Investments by 87.2% during the second quarter. Harbor Investment Advisory LLC now owns 747 shares of the asset manager’s stock valued at $66,000 after purchasing an additional 348 shares during the last quarter. Versant Capital Management Inc raised its position in shares of SEI Investments by 12.6% in the second quarter. Versant Capital Management Inc now owns 2,139 shares of the asset manager’s stock valued at $188,000 after purchasing an additional 239 shares during the period. Finally, CX Institutional raised its position in shares of SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 164 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on SEIC shares. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Piper Sandler lifted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Buy” and an average 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.