Dennis Mcgonigle Sells 30,000 Shares of SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) CFO Dennis Mcgonigle sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $62.22, for a total value of $1,866,600.00. Following the transaction, the chief financial officer now owns 594,163 shares of the company’s stock, valued at $36,968,821.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $62.01 on Friday. The firm has a market cap of $8.21 billion, a P/E ratio of 20.95, a PEG ratio of 1.45 and a beta of 1.03. The stock has a fifty day moving average price of $61.44 and a two-hundred day moving average price of $59.29. SEI Investments has a 1 year low of $46.30 and a 1 year high of $64.69.

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

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC acquired a new stake in SEI Investments during the fourth quarter worth about $26,000. International Assets Investment Management LLC bought a new position in SEI Investments in the 1st quarter worth approximately $45,000. Vestor Capital LLC bought a new position in SEI Investments in the 2nd quarter worth approximately $45,000. UniSuper Management Pty Ltd bought a new stake in shares of SEI Investments during the 2nd quarter valued at $48,000. Finally, Denali Advisors LLC raised its position in shares of SEI Investments by 1,860.5% during the 4th quarter. Denali Advisors LLC now owns 843 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 800 shares during the last quarter. 69.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com assumed coverage on SEI Investments in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Piper Sandler lifted their price target on SEI Investments from $60.00 to $65.00 in a research note on Thursday, July 27th. Finally, Morgan Stanley boosted their target price on SEI Investments from $60.00 to $62.00 in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.