SEI Investments (NASDAQ:SEIC) Insider Philip Mccabe Sells 24,957 Shares

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

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 value of $532,036.50.

SEI Investments Stock Down 0.1%

Shares of NASDAQ:SEIC opened at $104.69 on Friday. 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 1 year low of $75.08 and a 1 year high of $107.00. The stock has a market capitalization of $12.56 billion, a P/E ratio of 18.46 and a beta of 0.96. The stock has a 50-day simple moving average of $94.08 and a 200-day simple moving average of $87.21.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Equities analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEIC. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating 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, July 25th. Finally, UBS Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $122.60.

Institutional Trading of SEI Investments

Several institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its holdings in 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 acquiring an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake 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 valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC raised 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 in the last quarter. CX Institutional lifted its position in shares of SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after purchasing an additional 164 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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.