Carl Guarino, a director at SEI Investments Co (NASDAQ:SEIC), recently sold 7,564 shares of the company's common stock. The shares were sold at an average price of $75.77, totaling approximately $573,124. Following this transaction, Guarino now holds 13,867 shares directly. Additionally, he exercised an option to acquire 10,000 shares at a price of $40.64 per share, which were subsequently sold. Guarino also has 400 shares held indirectly for the benefit of minor children.
In other recent news, SEI Investments' financial performance has caught the attention of analysts and investors alike. The company's recent quarterly financial results exceeded estimates, leading to Piper Sandler raising its stock price target for SEI Investments from $74 to $77. The company reported an earnings per share (EPS) of $1.19, surpassing analyst expectations and consensus estimates. After adjusting for certain one-time gains, the core EPS was estimated at $1.11.
SEI Investments' strong quarter was marked by an increase in firmwide operating margins and record-breaking sales events totaling $46 million. The company's revenue from the Federal Deposit Insurance Corporation (FDIC) cash program is expected to double in the fourth quarter due to enhancements that increased the cash sweep. This positive performance led Oppenheimer to raise its estimates and price target for SEI Investments, signaling confidence in the company's potential for continued financial growth.
Moreover, SEI Investments reported a record-breaking third quarter, with significant top-line growth and effective expense management. The company's assets under management, administration, and advisement reached new highs, contributing to the company's robust growth. These recent developments reflect positively on SEI Investments' financial health and future prospects, as per the insights provided by Piper Sandler and Oppenheimer.
InvestingPro Insights
As Carl Guarino's recent stock sale at SEI Investments Co (NASDAQ:SEIC) catches attention, it's worth noting some key financial metrics and insights that provide context to the company's current position.
According to InvestingPro data, SEI Investments has a market capitalization of $9.82 billion and is trading at a P/E ratio of 18.26. This valuation is particularly interesting when considering one of the InvestingPro Tips, which suggests that SEIC is trading at a low P/E ratio relative to its near-term earnings growth. This could indicate potential undervaluation in the stock.
The company's financial health appears robust, with InvestingPro Tips highlighting that SEIC's cash flows can sufficiently cover interest payments and its liquid assets exceed short-term obligations. These factors contribute to the company's strong financial position and may explain why it has maintained dividend payments for an impressive 37 consecutive years.
Speaking of dividends, SEIC currently offers a dividend yield of 1.21%, with a dividend growth rate of 6.98% over the last twelve months. An InvestingPro Tip reveals that the company has raised its dividend for 10 consecutive years, demonstrating a commitment to shareholder returns that aligns with its long-term financial stability.
SEIC's revenue growth is also noteworthy, with a 12.72% increase in quarterly revenue as of Q3 2024. This growth, coupled with a high gross profit margin of 78.56%, underscores the company's operational efficiency and market strength.
Investors looking for more comprehensive analysis can find additional insights on InvestingPro, which offers 10 more tips for SEI Investments Co.
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