SEI Investments (NASDAQ:SEIC - Get Free Report) issued its quarterly earnings data on Wednesday. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60, Zacks reports. The business had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS.
SEI Investments Stock Up 0.2%
Shares of SEI Investments stock traded up $0.20 during trading on Friday, hitting $89.99. 1,205,396 shares of the stock traded hands, compared to its average volume of 937,867. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.53 and a beta of 0.92. The firm's fifty day moving average is $87.68 and its 200-day moving average is $81.83. SEI Investments has a 52 week low of $62.38 and a 52 week high of $93.96.
SEI Investments Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 2.18%. SEI Investments's dividend payout ratio is 18.39%.
Insider Transactions at SEI Investments
In other news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the transaction, the insider directly owned 23,895 shares in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total value of $4,213,500.00. Following the transaction, the executive vice president owned 13,500 shares in the company, valued at approximately $1,137,645. The trade was a 78.74% 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 over the last 90 days. Company insiders own 14.60% of the company's stock.
Hedge Funds Weigh In On SEI Investments
Several institutional investors and hedge funds have recently bought and sold shares of SEIC. Baird Financial Group Inc. bought a new position in SEI Investments during the 1st quarter worth approximately $201,000. Bison Wealth LLC bought a new position in SEI Investments during the 4th quarter worth approximately $207,000. Finally, Geneos Wealth Management Inc. grew 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 worth $41,000 after acquiring an additional 200 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SEIC has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Raymond James Financial upped their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a report on Thursday. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.00.
Check Out Our Latest Stock Report on SEIC
SEI Investments Company Profile
(
Get Free Report)
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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