OAKS, PA—William Doran, a director at SEI Investments Co. (NASDAQ:SEIC), recently executed a sale of 5,000 shares of the company's common stock. The transaction, which took place on November 26, 2024, was conducted at a price of $81.80 per share, totaling approximately $409,000.
Following this sale, Doran retains ownership of 661,386 shares in the company. The transaction was disclosed in a filing with the Securities and Exchange Commission, underscoring the ongoing management of stock holdings by company insiders.
In other recent news, SEI Investments has been making headlines with its strong financial performance. The company's recent quarterly results surpassed estimates, with earnings per share (EPS) reaching $1.19, largely due to higher-than-expected revenue in the Private Banking & Trust and Investment Advisors segments. This positive performance has led to adjustments in price targets by both Piper Sandler and Oppenheimer, which have increased their targets to $77 and $85 respectively, while maintaining their neutral and outperform ratings on the stock.
SEI Investments also reported a record-breaking quarter for sales events, totaling $46 million. The company's revenue from the Federal Deposit Insurance Corporation (FDIC) cash program is projected to double in the fourth quarter due to enhancements that increased the cash sweep.
Furthermore, SEI Investments' assets under management, administration, and advisement reached new highs, contributing to significant top-line growth and effective expense management. The company's strong balance sheet with no debt and $900 million in cash further underscores its financial stability. These recent developments offer a glimpse into the company's robust growth and financial health.
InvestingPro Insights
SEI Investments Co. (NASDAQ:SEIC) has been demonstrating strong financial performance, which adds context to the recent insider transaction. According to InvestingPro data, the company's stock is trading near its 52-week high, with a price at 99.3% of its peak. This strength is reflected in the impressive 44.95% total return over the past year.
The company's financial health appears robust, with a market capitalization of $10.63 billion and a P/E ratio of 19.7, suggesting a reasonable valuation relative to earnings. SEI's revenue growth of 8.53% over the last twelve months and a strong quarterly revenue growth of 12.72% in Q3 2024 indicate positive business momentum.
InvestingPro Tips highlight SEI's commitment to shareholder returns. The company has maintained dividend payments for 37 consecutive years and has raised its dividend for 10 consecutive years. This consistent dividend policy, coupled with a current dividend yield of 1.12%, may be attractive to income-focused investors.
Furthermore, SEI's financial stability is underscored by the fact that its liquid assets exceed short-term obligations, and cash flows can sufficiently cover interest payments. These factors contribute to the company's overall financial health and may provide reassurance to investors in light of the insider sale.
For readers interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for SEI Investments Co., providing deeper insights into the company's financial position and market performance.
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