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

SEI Investments Company (NASDAQ:SEIC) insider Philip Mccabe sold 24,957 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the sale, the insider owned 54,884 shares in the company, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 transaction of $532,036.50.

SEI Investments Price Performance

NASDAQ:SEIC opened at $104.70 on Friday. The company has a market cap of $12.57 billion, a P/E ratio of 18.47 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. SEI Investments Company has a one year low of $75.08 and a one year high of $107.00. The firm’s fifty day moving average price is $94.42 and its two-hundred day moving average price is $87.34.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Equities analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Announces Dividend

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

Institutional Investors Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of SEIC. BlackRock Inc. acquired a new stake in shares of SEI Investments during the second quarter valued at about $870,745,000. Bank of America Corp DE increased its stake in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after buying an additional 133,057 shares during the period. Geode Capital Management LLC raised its holdings in SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after buying an additional 109,974 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in SEI Investments by 19.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after buying an additional 308,988 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in SEI Investments by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after buying an additional 20,054 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods lifted 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. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, UBS Group reissued a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $122.60.

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.