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

SEI Investments Company (NASDAQ:SEIC - Get Free Report) has been given an average rating of "Moderate Buy" by the six ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $88.00.

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. William Blair reissued a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th.

SEI Investments Price Performance

NASDAQ:SEIC remained flat at $83.22 during trading hours on Friday. 1,420,421 shares of the company's stock traded hands, compared to its average volume of 729,785. The business's 50 day moving average price is $81.21 and its 200 day moving average price is $80.52. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.48 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. During the same quarter last year, the business posted $0.99 earnings per share. The firm's revenue was up 7.8% compared to the same quarter last year. Research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, June 9th. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is presently 21.30%.

Insider Activity

In related news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the sale, the insider now directly owns 23,895 shares in the company, valued at $1,992,843. This represents a 45.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the sale, the chief executive officer now owns 171,260 shares of the company's stock, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,126 shares of company stock valued at $19,638,659. 14.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new stake in SEI Investments during the 4th quarter valued at $31,000. Allworth Financial LP increased its position in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares during the period. Geneos Wealth Management Inc. increased its position in SEI Investments by 60.2% during the 1st 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 period. Versant Capital Management Inc increased its position in SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares during the period. Finally, First Horizon Advisors Inc. increased its position in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.