Michael Peterson, Executive Vice President and General Counsel at SEI Investments Co. (NASDAQ:SEIC), has recently sold shares valued at approximately $1.86 million. The sales took place on October 25, 2024, involving a total of 25,000 shares of SEI Investments' common stock. The sale prices ranged from $74.00 to $75.18 per share.
In the transactions, Peterson sold 20,438 shares at a weighted average price of $74.49 and an additional 4,562 shares at a weighted average price of $75.04. Following these sales, Peterson now holds 6,500 shares of SEI Investments' common stock.
In a related transaction, Peterson acquired 25,000 shares through the exercise of stock options at a price of $55.73 per share. This acquisition was part of his employment compensation package.
These transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency to investors and the public regarding insider trading activities.
In other recent news, SEI Investments has been the subject of focus following strong third-quarter earnings and revenue growth. The company reported earnings per share (EPS) of $1.19, exceeding analysts' expectations. This performance was largely attributed to higher-than-expected revenue in the Private Banking & Trust and Investment Advisors segments. Adjusting for one-time benefits, the core EPS for the company was estimated at $1.11.
Both Piper Sandler and Oppenheimer have raised their price targets for SEI Investments, reflecting confidence in the company's potential for continued financial growth. Piper Sandler increased its price target to $77 from $74 and revised its earnings per share (EPS) projections for the years 2024 and 2025 upward. Oppenheimer raised its price target to $85 from $81.
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. These are recent developments that highlight the company's strong performance in the recent quarter.
InvestingPro Insights
SEI Investments Co. (NASDAQ:SEIC) has been demonstrating strong financial performance and market positioning, as evidenced by recent InvestingPro data and tips. The company's stock is currently trading near its 52-week high, with a price that's 99.41% of its peak, reflecting investor confidence in its prospects.
SEI's financial health appears robust, with InvestingPro data showing a market capitalization of $9.82 billion and a P/E ratio of 18.26. This valuation seems reasonable, especially considering the company's growth metrics. Revenue growth stands at 8.53% over the last twelve months, with an impressive 12.72% growth in the most recent quarter.
Notably, SEI has maintained a strong dividend track record. An InvestingPro Tip highlights that the company has raised its dividend for 10 consecutive years and has maintained dividend payments for 37 consecutive years. This consistency in shareholder returns aligns with the company's solid financial position, as another tip indicates that SEI's liquid assets exceed its short-term obligations.
The recent insider sale by Michael Peterson should be viewed in the context of these positive indicators. While significant insider transactions can sometimes raise questions, it's worth noting that SEI's fundamentals remain strong. The company's profitability is underscored by its healthy gross profit margin of 78.56% and an operating income margin of 25.0% over the last twelve months.
Investors seeking more comprehensive insights can access additional tips on InvestingPro, which offers a total of 10 tips for SEI Investments Co., providing a deeper understanding of the company's financial health and market position.
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