Carmen Romeo, a director at SEI Investments Co (NASDAQ:SEIC), recently sold 5,000 shares of the company's common stock. The shares were sold at a price of $79.64 each, resulting in a total transaction value of $398,200. This transaction was part of a series of moves on November 6, 2024, which also included the acquisition of 5,000 shares through option exercises at $40.64 per share. Following these transactions, Romeo holds 1,577,652 shares directly.
In other recent news, SEI Investments has been the subject of considerable attention following strong third-quarter earnings and revenue growth. The company reported an earnings per share (EPS) of $1.19, surpassing both analyst expectations and consensus estimates, largely due to higher-than-anticipated revenue in the Private Banking & Trust and Investment Advisors segments. In light of these results, Piper Sandler and Oppenheimer have both revised their price targets for SEI Investments, indicating confidence in the company's potential for continued financial growth.
SEI Investments also announced 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, with net sales events totaling $46 million. In addition, revenue from the company's Federal Deposit Insurance Corporation (FDIC) cash program is projected to double quarter over quarter in the fourth quarter due to enhancements that increased the cash sweep.
These are among the recent developments that have put SEI Investments in the spotlight, demonstrating the company's robust growth and strong financial position.
InvestingPro Insights
The recent insider transaction at SEI Investments Co (NASDAQ:SEIC) comes at a time when the company's stock is showing strong performance. According to InvestingPro data, SEIC has seen a robust 23.05% price total return over the past three months, and an impressive 45.32% return over the past year. This positive momentum is reflected in the stock trading near its 52-week high, with the current price at 99.47% of that peak.
SEI Investments' financial health appears solid, with InvestingPro Tips highlighting that the company's cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations. This financial stability is further underscored by the company's consistent dividend history, having maintained dividend payments for 37 consecutive years and raised its dividend for 10 consecutive years.
The company's valuation metrics present an interesting picture. While SEIC is trading at a high Price / Book multiple of 4.41, it also has a relatively low P/E ratio of 19.22 compared to its near-term earnings growth. This suggests that despite the recent stock price appreciation, there may still be value for investors, especially considering the company's strong profitability indicators.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights with 12 more tips available for SEI Investments Co. These tips could provide valuable context for understanding the company's market position and future prospects in light of the recent insider transaction.
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