SEI Investments (NASDAQ:SEIC) Hits New 12-Month High – Still a Buy?

SEI Investments Company (NASDAQ:SEIC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $110.79 and last traded at $111.3990, with a volume of 30872 shares changing hands. The stock had previously closed at $109.53.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. UBS Group restated a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Morgan Stanley lifted their price target on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $122.60.

SEI Investments Trading Up 1.9%

The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 19.68 and a beta of 0.96. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $97.99 and its two-hundred day moving average price is $88.77.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. On average, equities analysts predict that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The business also recently declared 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. The ex-dividend date was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio is 18.34%.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the sale, the chairman owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Philip Mccabe sold 24,957 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total value of $2,621,483.28. Following the sale, the insider owned 54,884 shares in the company, valued at $5,765,015.36. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 142,332 shares of company stock worth $13,745,813 in the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional Trading of SEI Investments

Several hedge funds and other institutional investors have recently made changes to their positions in SEIC. California State Teachers Retirement System increased its stake in shares of SEI Investments by 8,074.1% in the second quarter. California State Teachers Retirement System now owns 10,288,383 shares of the asset manager’s stock valued at $902,394,000 after buying an additional 10,162,517 shares during the period. BlackRock Inc. bought a new stake in SEI Investments during the 2nd quarter worth approximately $870,745,000. Bank of America Corp DE grew its holdings in 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 worth $284,015,000 after acquiring an additional 133,057 shares during the last quarter. Geode Capital Management LLC grew its holdings in SEI Investments by 3.9% during the 4th 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 during the last quarter. Finally, Lord Abbett & CO. LLC increased its position 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 period. 70.59% of the stock is currently owned by institutional investors.

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.