SEI Investments Company (NASDAQ:SEIC) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• SEI Investments is receiving a generally positive Wall Street view, with eight analysts averaging a “Moderate Buy” rating and a 12-month price target of $103.
• The company recently posted better-than-expected earnings of $1.44 per share, beating estimates, though quarterly revenue came in slightly below forecasts.
• Insiders have been selling shares recently, including Director Kathryn Mccarthy and Chairman Alfred P. West, Jr., while institutional investors still hold a large majority of the stock.

Shares of SEI Investments Company (NASDAQ:SEIC - Get Free Report) have been given an average rating of "Moderate Buy" by the eight analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $103.00.

Several brokerages have recently issued reports on SEIC. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 price target on shares of SEI Investments in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research note on Tuesday, April 21st. Morgan Stanley cut their price target on SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods upped their price target on SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the transaction, the director owned 77,883 shares of the company's stock, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares in the company, valued at $595,549,566.75. The trade was a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 111,332 shares of company stock valued at $9,908,883. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in SEIC. Norges Bank acquired a new position in SEI Investments in the fourth quarter valued at about $53,548,000. Clark Capital Management Group Inc. lifted its stake in SEI Investments by 2,333.2% in the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager's stock valued at $52,973,000 after buying an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in SEI Investments in the fourth quarter valued at about $43,186,000. Qube Research & Technologies Ltd lifted its stake in SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager's stock valued at $65,061,000 after buying an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec increased its holdings in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager's stock worth $114,018,000 after acquiring an additional 317,703 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 1.4%

Shares of SEIC opened at $87.71 on Wednesday. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. SEI Investments has a 12-month low of $75.08 and a 12-month high of $93.96. The firm has a market capitalization of $10.55 billion, a PE ratio of 14.97 and a beta of 0.97. The stock's fifty day simple moving average is $89.43 and its 200-day simple moving average is $84.60.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts predict that SEI Investments will post 5.89 earnings per share for the current year.

SEI Investments Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 118.0%. SEI Investments's dividend payout ratio is presently 17.75%.

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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