Key Points
- SEI Investments insider Philip Mccabe sold 5,043 shares at an average price of $105.50, generating $532,036.50; he now directly owns 54,884 shares. He also sold 24,957 shares the previous day.
- 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 remain broadly positive, with the stock carrying an average “Buy” rating and a consensus price target of $122.60, compared with a recent share price near $104.69.
SEI Investments Company (NASDAQ:SEIC - Get Free Report) insider Philip Mccabe sold 5,043 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total value of $532,036.50. Following the transaction, the insider directly owned 54,884 shares of the company's stock, valued at $5,790,262. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Philip Mccabe also recently made the following trade(s):
- On Tuesday, August 4th, Philip Mccabe sold 24,957 shares of SEI Investments stock. The stock was sold at an average price of $105.04, for a total transaction of $2,621,483.28.
SEI Investments Stock Performance
Shares of SEIC opened at $104.69 on Friday. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 18.46 and a beta of 0.96. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $107.00. The firm has a fifty day simple moving average of $94.08 and a 200 day simple moving average of $87.21. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06.
SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results 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. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the business earned $1.78 EPS. The company's revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.
SEI Investments Announces Dividend
The business also recently announced a dividend, which was paid on Tuesday, June 16th. Investors 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 payout ratio is currently 18.34%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of SEIC. Bank of New York Mellon Corp acquired a new position in SEI Investments during the 2nd quarter worth approximately $78,430,000. Norges Bank acquired a new position in shares of SEI Investments during the fourth quarter worth $53,548,000. Clark Capital Management Group Inc. increased its holdings in shares of SEI Investments by 2,333.2% during the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager's stock worth $52,973,000 after buying an additional 619,315 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of SEI Investments in the 4th quarter valued at $43,186,000. Finally, Qube Research & Technologies Ltd lifted its stake in shares of SEI Investments by 82.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager's stock valued at $65,061,000 after acquiring an additional 346,696 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.
Analyst Ratings Changes
SEIC has been the subject of a number of analyst reports. Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Morgan Stanley raised their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. UBS Group restated a "buy" rating and set a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, SEI Investments currently has an average rating of "Buy" and an average target price of $122.60.
Read Our Latest Research Report on SEIC
SEI Investments Company Profile
(
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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