Key Points
- Insider Sanjay Sharma sold 20,000 SEI Investments shares at an average price of $99.33, generating approximately $1.99 million and reducing his direct stake by 33.43% to 39,829 shares.
- SEI Investments reported quarterly EPS of $1.66, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
- Analysts maintain a favorable outlook, with the stock carrying a consensus “Buy” rating and an average price target of $122.60, above its reported opening price of $103.14.
SEI Investments Company (NASDAQ:SEIC - Get Free Report) insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares of the company's stock, valued at approximately $3,956,214.57. This trade represents a 33.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
SEI Investments Trading Up 1.6%
Shares of SEI Investments stock opened at $103.14 on Wednesday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $103.75. The firm has a market capitalization of $12.40 billion, a PE ratio of 18.19 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 $92.14 and its two-hundred day moving average price is $86.34.
SEI Investments (NASDAQ:SEIC - Get Free Report) last issued 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. 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 during the quarter, compared to analysts' expectations of $636.35 million. During the same period in the prior year, the firm posted $1.78 EPS. SEI Investments's quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts expect that SEI Investments Company will post 6.2 EPS for the current year.
SEI Investments Announces Dividend
The business also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments's dividend payout ratio is 18.34%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group reaffirmed a "buy" rating and set a $125.00 target price on shares of SEI Investments 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. Piper Sandler raised their price target on SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of "Buy" and a consensus target price of $122.60.
Read Our Latest Stock Report on SEIC
Hedge Funds Weigh In On SEI Investments
A number of large investors have recently modified their holdings of the business. Bison Wealth LLC acquired a new position in SEI Investments during the fourth quarter worth approximately $207,000. Baird Financial Group Inc. acquired a new stake in shares of SEI Investments in the first quarter valued at approximately $201,000. Geneos Wealth Management Inc. boosted its stake in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after acquiring an additional 200 shares during the period. M&T Bank Corp boosted its stake in shares of SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after acquiring an additional 341 shares during the period. Finally, CW Advisors LLC acquired a new position in shares of SEI Investments during the 2nd quarter worth approximately $280,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.
About SEI Investments
(
Get Free Report)
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.
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