SEI Investments (NASDAQ:SEIC) Sets New 52-Week High - Should You Buy?

SEI Investments Company (NASDAQ:SEIC - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $93.96 and last traded at $92.98, with a volume of 370063 shares. The stock had previously closed at $93.23.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SEIC shares. Piper Sandler boosted their target price on shares of SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Morgan Stanley restated an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer boosted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

SEI Investments Stock Performance

The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.58 and a beta of 0.92. The company has a 50 day moving average price of $87.07 and a two-hundred day moving average price of $81.54.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating 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 analyst estimates of $556.76 million. During the same quarter last year, the firm posted $0.99 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a dividend of $0.49 per share. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.11%. SEI Investments's payout ratio is 21.30%.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $14,276,233.60. This represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,126 shares of company stock valued at $19,638,659. Insiders own 14.60% of the company's stock.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Proficio Capital Partners LLC acquired a new position in shares of SEI Investments during the 4th quarter valued at $993,000. HighTower Advisors LLC boosted its position in shares of SEI Investments by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,513 shares of the asset manager's stock worth $950,000 after buying an additional 574 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of SEI Investments by 29.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,119 shares of the asset manager's stock worth $917,000 after buying an additional 2,542 shares during the period. Xponance Inc. boosted its position in SEI Investments by 5.5% during the fourth quarter. Xponance Inc. now owns 17,337 shares of the asset manager's stock valued at $1,430,000 after purchasing an additional 911 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in SEI Investments by 69.2% during the fourth quarter. Teacher Retirement System of Texas now owns 258,956 shares of the asset manager's stock valued at $21,359,000 after purchasing an additional 105,908 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

About SEI Investments

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.