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

SEI Investments Company (NASDAQ:SEIC) insider Dennis Mcgonigle sold 15,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $69.63, for a total transaction of $1,044,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of SEI Investments Company (NASDAQ SEIC) opened at $70.08 on Wednesday. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. SEI Investments Company has a 52 week low of $47.73 and a 52 week high of $71.13. The company has a market cap of $11,060.00, a PE ratio of 30.52, a P/E/G ratio of 2.49 and a beta of 1.40.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The firm had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. research analysts forecast that SEI Investments Company will post 2.35 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

SEIC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Monday, October 30th. Oppenheimer raised their target price on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, Mizuho reiterated a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its position in SEI Investments by 10.0% during the third quarter. Public Employees Retirement System of Ohio now owns 292,871 shares of the asset manager’s stock worth $17,883,000 after acquiring an additional 26,701 shares during the last quarter. GSA Capital Partners LLP raised its position in SEI Investments by 27.3% during the third quarter. GSA Capital Partners LLP now owns 24,346 shares of the asset manager’s stock worth $1,487,000 after acquiring an additional 5,216 shares during the last quarter. Hahn Capital Management LLC raised its position in SEI Investments by 1.0% during the third quarter. Hahn Capital Management LLC now owns 614,442 shares of the asset manager’s stock worth $37,518,000 after acquiring an additional 5,815 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in SEI Investments during the third quarter worth about $281,000. Finally, California Public Employees Retirement System raised its position in SEI Investments by 6.0% during the third quarter. California Public Employees Retirement System now owns 313,021 shares of the asset manager’s stock worth $19,113,000 after acquiring an additional 17,821 shares during the last quarter. Hedge funds and other institutional investors own 70.55% 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.

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