SEI Investments (NASDAQ:SEIC) Reaches New 1-Year High - Here's What Happened

Key Points

• SEI Investments reached a new 52-week high, trading as high as $112.15 with a market capitalization of approximately $13.31 billion.
• Analysts remain broadly optimistic, with six Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $122.60.
• The company exceeded quarterly expectations, reporting adjusted earnings of $1.66 per share versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year.

SEI Investments Company (NASDAQ:SEIC - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $112.15 and last traded at $111.59, with a volume of 660725 shares trading hands. The stock had previously closed at $111.63.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Raymond James Financial upped their target price on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. UBS Group restated a "buy" rating and set a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $122.60.

SEI Investments Trading Down 0.4%

The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 19.49 and a beta of 0.96. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $100.09 and a 200-day moving average of $89.70.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The firm had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The business's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current year.

Insiders Place Their Bets

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the sale, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. The trade was a 35.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the completion of the sale, the insider directly owned 921 shares of the company's stock, valued at $94,264.35. This represents a 94.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 142,332 shares of company stock worth $13,745,813 in the last quarter. Corporate insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently modified their holdings of SEIC. California State Teachers Retirement System increased its position in SEI Investments by 8,074.1% during the second quarter. California State Teachers Retirement System now owns 10,288,383 shares of the asset manager's stock worth $902,394,000 after buying an additional 10,162,517 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of SEI Investments in the second quarter worth about $870,745,000. Bank of America Corp DE lifted its position in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock worth $284,015,000 after buying an additional 133,057 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock worth $237,421,000 after acquiring an additional 109,974 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock worth $157,263,000 after acquiring an additional 308,988 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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