SEI Investments (NASDAQ:SEIC) Given Average Rating of "Moderate Buy" by Analysts

Shares of SEI Investments (NASDAQ:SEIC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $87.60.

A number of research analysts recently issued reports on SEIC shares. Piper Sandler increased their price objective on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th.

SEI Investments Trading Down 0.5%

Shares of NASDAQ SEIC traded down $0.46 during mid-day trading on Tuesday, reaching $84.84. 1,668,748 shares of the company's stock were exchanged, compared to its average volume of 682,336. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.41 and a beta of 0.90. The business has a fifty day simple moving average of $77.66 and a 200 day simple moving average of $80.21. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 earnings per share. Equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.31%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is currently 21.30%.

SEI Investments declared that its board has authorized a share buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, 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 completion of the sale, the executive vice president now directly owns 13,500 shares of the company's stock, valued at $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock worth $13,925,963 over the last ninety days. 14.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in SEI Investments by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after purchasing an additional 60,307 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock worth $134,487,000 after purchasing an additional 111,065 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in SEI Investments by 1.5% during the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock worth $102,897,000 after purchasing an additional 19,150 shares during the last quarter. FMR LLC lifted its holdings in SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in SEI Investments by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after purchasing an additional 46,425 shares during the last quarter. 70.59% of the stock is 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.