SEI Investments Co (NASDAQ:SEIC) director William Doran has sold 5,000 shares of the company's common stock, netting a total of $335,200. The transaction was executed on June 24, 2024, with the shares sold at a price of $67.04 each.
The sale was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). Following the sale, Doran's remaining ownership in SEI Investments stands at 656,386 shares of common stock, indicating a significant ongoing stake in the company.
SEI Investments, based in Oaks, Pennsylvania, operates within the securities brokerage industry and provides a range of financial services. The company's stock trades under the ticker SEIC on the NASDAQ stock exchange.
Investors often monitor insider sales as they may provide insights into an executive's confidence in the company's future prospects. However, it should be noted that such transactions can be subject to various personal financial considerations and do not necessarily reflect a negative outlook.
The sale was facilitated through a power of attorney, as indicated in an accompanying exhibit filed with the SEC, which names several individuals authorized to act on Doran's behalf for certain transactions.
This recent transaction provides current and potential investors with updated information on insider activity at SEI Investments, which can be an important factor in investment decision-making.
In other recent news, SEI Investments Company (NASDAQ:SEIC) has delivered strong financial results for the first quarter, with a notable 9% increase in revenue to $511.6 million and a 23% surge in net income to $131.4 million. Earnings per share also saw a significant rise, up by 25% to $0.99. The company's robust performance was attributed to sales growth, new technology initiatives, and a focus on private banking.
In addition to the earnings report, SEI Investments announced a regular semi-annual dividend of $0.46 per share, a move that reflects its commitment to providing returns to shareholders. The company, which manages, advises, or administers assets totaling approximately $1.5 trillion, declared that shareholders of record as of June 10, 2024, will be eligible for the dividend payout scheduled on June 18, 2024.
These recent developments from SEI Investments Company include a strategic investment in TIFIN and initiatives to develop talent and enhance organizational culture. Despite facing negative net sales events in its Institutional Investors segment and challenges in AUM-based businesses, the company remains optimistic about its ability to drive sales in various markets and expand its footprint.
InvestingPro Insights
Following the recent insider sale at SEI Investments Co (NASDAQ:SEIC), investors are keenly observing the company's financial health and potential for future growth. As of the last twelve months ending in Q1 2024, SEI Investments has demonstrated a solid financial position with a market capitalization of $8.76 billion and a P/E ratio that stands at 17.97, indicating a valuation that is potentially attractive relative to near-term earnings growth.
One of the noteworthy InvestingPro Tips for SEI Investments is the company's consistent history of dividend payments, having increased its dividend for 10 consecutive years. This could be a signal of SEI Investments' commitment to shareholder returns and its confidence in sustained profitability, which is further supported by analysts' positive revisions of earnings for the upcoming period. Moreover, the company's cash flows are robust enough to cover interest payments comfortably, underscoring its financial stability.
Investors examining the company's performance metrics will find that SEI Investments has maintained a gross profit margin of 77.93% over the last twelve months, reflecting efficient operations and control over costs. Additionally, the company's return on assets of 19.92% during the same period showcases its ability to generate earnings from its asset base. With a dividend yield of 1.38% as of mid-2024, SEI Investments remains an appealing consideration for income-focused investors.
For those interested in further insights and metrics, InvestingPro offers a comprehensive list of additional tips. Discover more about SEI Investments' financial outlook by visiting https://www.investing.com/pro/SEIC and take advantage of an exclusive offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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