Key Points
- SEI Investments EVP Michael Lane sold 2,400 shares at an average price of $102.78, totaling $246,672. Following the sale, he owned 39,581 shares, a 5.72% reduction in his holdings.
- SEI Investments recently exceeded quarterly expectations, reporting $1.66 in EPS versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year.
- Analyst sentiment remains positive, with seven Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $122.60.
SEI Investments Company (NASDAQ:SEIC - Get Free Report) EVP Michael Lane sold 2,400 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total transaction of $246,672.00. Following the completion of the transaction, the executive vice president directly owned 39,581 shares of the company's stock, valued at approximately $4,068,135.18. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
SEI Investments Stock Down 0.0%
SEI Investments stock opened at $104.78 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. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 18.48 and a beta of 0.97. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15. The stock's fifty day moving average is $105.67 and its two-hundred day moving average is $93.22.
SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analysts' expectations 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 period last year, the company posted $1.78 EPS. Analysts predict that SEI Investments Company will post 6.21 EPS for the current fiscal year.
Wall Street Analyst Weigh In
SEIC has been the topic of several recent analyst reports. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Piper Sandler lifted their price target on SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. William Blair upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 15th. Raymond James Financial increased their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $122.60.
View Our Latest Analysis on SEIC
Institutional Investors Weigh In On SEI Investments
Several hedge funds have recently modified their holdings of the stock. Jupiter Topco LLC bought a new stake in shares of SEI Investments during the second quarter valued at approximately $3,958,000. Oxbow Advisors LLC bought a new position in SEI Investments in the 1st quarter worth approximately $3,283,000. Lazard Asset Management LLC increased its position in SEI Investments by 85.2% in the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager's stock valued at $2,985,000 after acquiring an additional 17,504 shares during the period. King Luther Capital Management Corp raised its stake in SEI Investments by 10.2% during the 4th quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager's stock valued at $11,273,000 after acquiring an additional 12,713 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in SEI Investments during the 1st quarter worth $3,625,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
About SEI Investments
(
Get Free Report)
SEI Investments Company is a financial technology and investment solutions provider serving wealth managers, asset managers, institutional investors, banks and family offices. The company combines technology, outsourced operations and investment expertise to help clients manage portfolios, administer funds and support their broader financial businesses.
Its offerings include the SEI Wealth Platform, which provides technology and operating infrastructure for wealth management firms; investment processing and administration services; fund accounting and administration; and technology and operational support for investment managers.
Further Reading
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