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

SEI Investments Company (NASDAQ:SEIC)’s stock price reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $105.00 to $114.00. Piper Sandler currently has an overweight rating on the stock. SEI Investments traded as high as $96.73 and last traded at $96.0590, with a volume of 25204 shares trading hands. The stock had previously closed at $95.45.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Morgan Stanley raised their target price on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $116.20.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 7,332 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.39, for a total value of $640,743.48. Following the transaction, the chairman owned 6,818,451 shares in the company, valued at $595,864,432.89. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Philip Mccabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the completion of the transaction, the insider directly owned 54,884 shares in the company, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 111,332 shares of company stock worth $9,908,883. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its position in SEI Investments by 4.4% during the second 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 in the last quarter. Geode Capital Management LLC increased 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 buying an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of SEI Investments by 19.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after buying an additional 308,988 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of SEI Investments by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after buying an additional 20,054 shares during the period. Finally, First Trust Advisors LP lifted 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 buying an additional 21,731 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.2%

The stock has a 50 day moving average of $90.34 and a 200-day moving average of $85.18. The company has a market capitalization of $11.50 billion, a P/E ratio of 16.33 and a beta of 0.97. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter last year, the business earned $1.17 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that SEI Investments Company will post 5.92 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

SEI Investments Company Profile

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.