SEI Investments (NASDAQ:SEIC) Director Carl Guarino Sells 10,000 Shares

SEI Investments Company (NASDAQ:SEIC) Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the transaction, the director owned 18,308 shares of the company’s stock, valued at approximately $1,889,202.52. The trade was a 35.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $103.04 on Friday. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $104.47. The firm has a market capitalization of $12.37 billion, a P/E ratio of 18.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The company’s fifty day moving average price is $92.65 and its 200 day moving average price is $86.56.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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 company 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%. SEI Investments’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. As a group, sell-side analysts predict that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. 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. Morgan Stanley increased their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods lifted 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, Piper Sandler upped their target price on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has an average rating of “Buy” and a consensus target price of $122.60.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of SEIC. Elevation Wealth Partners LLC increased its stake in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares during the period. Allworth Financial LP boosted its holdings in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the period. Finally, CX Institutional increased its stake 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 acquiring an additional 164 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.