SEI Investments Company (NASDAQ:SEIC) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts remain bullish on SEI Investments: Six analysts rate the stock “buy” and one rates it “strong buy,” with an average 12-month price target of $122.60.
• Quarterly results exceeded expectations: SEI reported earnings of $1.66 per share versus the $1.44 consensus estimate, while revenue rose 14.7% year over year to $641.62 million.
• Shares have strengthened significantly: SEIC opened at $107.36, near its 12-month high of $108.04, compared with 50-day and 200-day moving averages of $97.20 and $88.49, respectively.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) has received an average recommendation of "Buy" from the seven analysts that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $122.60.

A number of brokerages have weighed in on SEIC. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Piper Sandler lifted their price objective on SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Zacks Research raised shares of SEI Investments from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 23rd. Finally, UBS Group reissued a "buy" rating and issued a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd.

SEI Investments Stock Performance

NASDAQ SEIC opened at $107.36 on Thursday. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The business's 50 day moving average is $97.20 and its two-hundred day moving average is $88.49. SEI Investments has a 12-month low of $75.08 and a 12-month high of $108.04. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 18.93 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the previous year, the company earned $1.78 EPS. The company's quarterly revenue was up 14.7% on a year-over-year basis. Research analysts expect that SEI Investments will post 6.2 EPS for the current year.

SEI Investments Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments's dividend payout ratio is presently 18.34%.

Insider Buying and Selling at SEI Investments

In related news, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the sale, the insider owned 921 shares in the company, valued at approximately $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company's stock, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 142,332 shares of company stock worth $13,745,813. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bison Wealth LLC bought a new stake in shares of SEI Investments during the 4th quarter worth $207,000. Baird Financial Group Inc. purchased a new stake in shares of SEI Investments during the first quarter valued at $201,000. Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp boosted its position in shares of SEI Investments by 11.9% in the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock valued at $289,000 after purchasing an additional 341 shares during the period. Finally, CW Advisors LLC purchased a new position in SEI Investments in the 2nd quarter worth about $280,000. 70.59% of the stock is owned by institutional investors.

About SEI Investments

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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