Dennis Mcgonigle Sells 15,000 Shares of SEI Investments (SEIC) Stock

SEI Investments (NASDAQ:SEIC) insider Dennis Mcgonigle sold 15,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $69.63, for a total value of $1,044,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of SEI Investments (NASDAQ:SEIC) traded down $0.21 during trading on Friday, hitting $71.86. The stock had a trading volume of 397,416 shares, compared to its average volume of 540,209. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. SEI Investments has a 12-month low of $47.88 and a 12-month high of $72.48. The company has a market cap of $11,320.00, a price-to-earnings ratio of 31.38, a PEG ratio of 2.56 and a beta of 1.40.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same period last year, the company earned $0.53 EPS. SEI Investments’s revenue for the quarter was up 3.8% compared to the same quarter last year. analysts expect that SEI Investments will post 2.35 EPS for the current year.

SEI Investments announced that its board has authorized a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently declared a semiannual dividend, which will be paid on Monday, January 8th. Investors of record on Wednesday, December 27th will be given a dividend of $0.30 per share. This represents a yield of 0.85%. This is a positive change from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date is Tuesday, December 26th. SEI Investments’s dividend payout ratio (DPR) is presently 26.20%.

A number of analysts recently issued reports on the company. Oppenheimer increased their price objective on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a report on Tuesday. Mizuho reissued a “buy” rating and set a $72.00 price objective on shares of SEI Investments in a report on Friday, November 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. SEI Investments currently has a consensus rating of “Buy” and a consensus target price of $67.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. Invictus RG purchased a new stake in SEI Investments in the 3rd quarter worth approximately $111,000. Pacer Advisors Inc. lifted its stake in shares of SEI Investments by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 203 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of SEI Investments by 7,575.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock valued at $150,000 after purchasing an additional 2,424 shares during the period. D.A. Davidson & CO. lifted its stake in shares of SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after purchasing an additional 253 shares during the period. Finally, Mosaic Family Wealth LLC lifted its stake in shares of SEI Investments by 6.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.

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About SEI Investments

SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.

Insider Buying and Selling by Quarter for SEI Investments (NASDAQ:SEIC)

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