Insider Selling: SEI Investments (NASDAQ:SEIC) Director Sells 10,000 Shares of Stock

SEI Investments (NASDAQ:SEIC) Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $60.58, for a total transaction of $605,800.00. Following the completion of the transaction, the director now directly owns 72,466 shares in the company, valued at $4,389,990.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

SEI Investments Trading Down 0.4 %

SEI Investments stock traded down $0.24 during trading hours on Monday, reaching $61.13. 342,000 shares of the stock were exchanged, compared to its average volume of 504,803. The company has a market cap of $8.09 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.03. SEI Investments has a twelve month low of $46.30 and a twelve month high of $64.69. The stock has a 50 day moving average of $61.69 and a two-hundred day moving average of $59.26.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $489.06 million for the quarter, compared to the consensus estimate of $479.22 million. SEI Investments had a net margin of 21.19% and a return on equity of 22.39%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. On average, analysts expect that SEI Investments will post 3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently bought and sold shares of the company. Portside Wealth Group LLC acquired a new stake in SEI Investments during the second quarter worth about $2,974,000. Alberta Investment Management Corp boosted its stake in shares of SEI Investments by 56.6% in the 2nd quarter. Alberta Investment Management Corp now owns 79,692 shares of the asset manager’s stock valued at $4,751,000 after purchasing an additional 28,801 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $3,130,000. Comerica Bank acquired a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $20,101,000. Finally, Vestor Capital LLC acquired a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $45,000. 69.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Morgan Stanley raised their price target on shares of SEI Investments from $60.00 to $62.00 in a research report on Wednesday, July 5th. StockNews.com assumed coverage on shares of SEI Investments in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Piper Sandler raised their price target on shares of SEI Investments from $60.00 to $65.00 in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.20.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.