SEI Investments Company (NASDAQ:SEIC - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $93.82 and last traded at $93.80, with a volume of 961072 shares. The stock had previously closed at $92.61.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods lifted their price target 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. Morgan Stanley reiterated an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Oppenheimer lifted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.00.
View Our Latest Research Report on SEIC
SEI Investments Stock Down 1.6%
The firm has a market capitalization of $11.49 billion, a PE ratio of 20.07, a P/E/G ratio of 1.57 and a beta of 0.92. The business's fifty day moving average price is $85.89 and its 200 day moving average price is $81.19.
SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The firm had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the previous year, the firm earned $0.99 earnings per share. SEI Investments's revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.
SEI Investments Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.12%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's payout ratio is presently 21.30%.
SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Insider Activity at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the sale, the chairman directly owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,126 shares of company stock valued at $19,638,659 in the last ninety days. 14.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On SEI Investments
Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after buying an additional 60,307 shares during the period. Dimensional Fund Advisors LP grew its stake in SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock worth $134,487,000 after buying an additional 111,065 shares during the period. Boston Trust Walden Corp grew its stake in SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock worth $102,897,000 after buying an additional 19,150 shares during the period. FMR LLC grew its stake in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after buying an additional 348,112 shares during the period. Finally, Northern Trust Corp grew its stake in SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock worth $88,104,000 after buying an additional 184,339 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
About SEI Investments
(
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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.
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