Insider Selling: SEI Investments Company (SEIC) Insider Sells $1,044,450.00 in Stock
SEI Investments Company (NASDAQ:SEIC) insider Dennis Mcgonigle sold 15,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $69.63, for a total value of $1,044,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SEI Investments Company (SEIC) opened at $70.53 on Thursday. SEI Investments Company has a 12 month low of $47.88 and a 12 month high of $71.13. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $11,051.47, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the prior year, the business posted $0.53 EPS. SEI Investments’s revenue for the quarter was up 3.8% compared to the same quarter last year. equities analysts expect that SEI Investments Company will post 2.35 earnings per share for the current fiscal year.
SEI Investments announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently modified their holdings of the business. Invictus RG purchased a new stake in SEI Investments in the 3rd quarter worth $111,000. Meeder Asset Management Inc. increased its stake in SEI Investments by 7,575.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after buying an additional 2,424 shares in the last quarter. Pacer Advisors Inc. increased its stake in SEI Investments by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after buying an additional 203 shares in the last quarter. D.A. Davidson & CO. increased its stake in SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after buying an additional 253 shares in the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in SEI Investments by 6.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.
A number of equities analysts recently commented on the company. Mizuho reaffirmed a “buy” rating and issued a $72.00 target price on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 30th. Oppenheimer raised their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a report on Sunday, September 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $67.25.
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SEI Investments Company Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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