SEI Investments (NASDAQ:SEIC) Hits New 12-Month High - Still a Buy?

Key Points

• SEI Investments shares reached a new 52-week high, trading near $111.40 and up 1.9%, with a market capitalization of approximately $13.4 billion.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $122.60; several firms recently raised their targets to between $119 and $125.
• The company exceeded quarterly expectations, reporting $1.66 in EPS versus $1.44 estimated and revenue of $641.62 million, up 14.7% year over year. However, insiders sold more than 142,000 shares worth roughly $13.7 million over the past 90 days.

Shares of SEI Investments Company (NASDAQ:SEIC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $110.79 and last traded at $111.3990, with a volume of 30872 shares trading hands. The stock had previously closed at $109.53.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the company an "outperform" rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a "buy" rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Piper Sandler upped their price objective on SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, SEI Investments has a consensus rating of "Buy" and a consensus price target of $122.60.

SEI Investments Trading Up 1.9%

The company has a market cap of $13.40 billion, a P/E ratio of 19.68 and a beta of 0.96. The business has a fifty day moving average price of $97.99 and a 200-day moving average price of $88.77. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

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

SEI Investments Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments's dividend payout ratio (DPR) is presently 18.34%.

Insider Buying and Selling

In other news, insider Philip Mccabe sold 5,043 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total transaction of $532,036.50. Following the transaction, the insider directly owned 54,884 shares of the company's stock, valued at approximately $5,790,262. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,031,900.00. Following the completion of the sale, the director owned 18,308 shares of the company's stock, valued at approximately $1,889,202.52. The trade was a 35.33% 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 valued at $13,745,813 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its holdings in shares of SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock worth $27,000 after purchasing an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC raised its stake in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares in the last quarter. CX Institutional lifted its position in SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager's stock worth $47,000 after purchasing an additional 164 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the period. Institutional investors 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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