SEI Investments (NASDAQ:SEIC) Sets New 12-Month High Following Analyst Upgrade

Shares of SEI Investments Company (NASDAQ:SEIC) hit a new 52-week high on Monday after Raymond James Financial raised their price target on the stock from $122.00 to $124.00. Raymond James Financial currently has an outperform rating on the stock. SEI Investments traded as high as $94.99 and last traded at $95.3070, with a volume of 297521 shares trading hands. The stock had previously closed at $91.43.

SEIC has been the subject of a number of other reports. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Morgan Stanley reduced their target price on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insider Buying and Selling at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 25,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the sale, the insider owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 111,332 shares of company stock worth $9,908,883. 4.80% of the stock is owned by insiders.

Institutional Trading of SEI Investments

Several hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in shares of SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after purchasing an additional 133,057 shares during the period. Geode Capital Management LLC raised its position in SEI Investments by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after acquiring an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in SEI Investments by 19.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after acquiring an additional 308,988 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after acquiring an additional 20,054 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of SEI Investments by 1.2% during the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock valued at $143,025,000 after purchasing an additional 21,731 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The company’s 50 day moving average price is $89.90 and its 200-day moving average price is $84.77. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 16.27 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. On average, equities research analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were issued a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio is currently 17.75%.

About SEI Investments

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.