SEI Investments (NASDAQ:SEIC) Insider Sanjay Sharma Sells 20,000 Shares of Stock

SEI Investments Company (NASDAQ:SEIC) insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction that occurred on Friday, July 24th. The stock was 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 owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

SEI Investments Stock Up 1.6%

NASDAQ:SEIC opened at $103.14 on Wednesday. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $92.14 and a 200-day moving average of $86.34. The firm has a market capitalization of $12.40 billion, a PE ratio of 18.19 and a beta of 0.97. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $103.75.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. The firm had revenue of $641.62 million for 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. Analysts predict that SEI Investments Company will post 6.2 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were issued a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio is presently 18.34%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Raymond James Financial boosted their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Morgan Stanley lifted their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” 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 report on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $122.60.

Institutional Trading of SEI Investments

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position 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 purchasing an additional 133,057 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after buying an additional 109,974 shares during the period. Lord Abbett & CO. LLC grew its stake 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. Dimensional Fund Advisors LP raised its holdings in SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after acquiring an additional 20,054 shares during the period. Finally, First Trust Advisors LP raised its holdings in SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock worth $143,025,000 after acquiring an additional 21,731 shares during the period. 70.59% of the stock is owned by institutional investors.

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.