Kathryn Mccarthy Sells 10,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

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

SEI Investments Price Performance

SEI Investments stock opened at $104.76 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $106.00. The stock has a market capitalization of $12.57 billion, a P/E ratio of 18.48 and a beta of 0.96. The stock has a fifty day moving average of $93.76 and a 200-day moving average of $87.08.

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

SEI Investments Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, June 16th. Investors 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 dividend yield of 118.0%. SEI Investments’s payout ratio is 18.34%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its position 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 acquiring an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC lifted 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 valued at $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Finally, Western Wealth Management LLC bought a new stake in shares of SEI Investments during the 1st quarter valued at about $43,000. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the subject of several research reports. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Morgan Stanley upped their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods increased 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. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, UBS Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $122.60.

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.