SEI Investments Company (NASDAQ:SEIC) Given Average Recommendation of “Moderate Buy” by Brokerages

SEI Investments Company (NASDAQ:SEIC) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.00.

A number of analysts have weighed in on SEIC shares. Keefe, Bruyette & Woods upped their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Morgan Stanley dropped their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd.

Insider Buying and Selling

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director directly owned 77,883 shares of the company’s stock, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 7,447 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total transaction of $590,249.22. Following the completion of the sale, the chairman directly owned 6,875,783 shares in the company, valued at approximately $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 116,447 shares of company stock valued at $9,908,539 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of SEI Investments by 3,554.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,042 shares of the asset manager’s stock worth $2,295,000 after acquiring an additional 26,302 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of SEI Investments by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after acquiring an additional 30,970 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of SEI Investments by 21.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 174,266 shares of the asset manager’s stock worth $14,786,000 after purchasing an additional 30,411 shares during the last quarter. M&G PLC acquired a new position in shares of SEI Investments during the 3rd quarter worth about $10,413,000. Finally, Prana Capital Management LP raised its position in shares of SEI Investments by 60.8% during the 3rd quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after purchasing an additional 269,023 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

SEI Investments stock opened at $89.42 on Friday. The company has a 50 day moving average price of $85.56 and a 200-day moving average price of $83.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. SEI Investments has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The company has a market capitalization of $10.75 billion, a PE ratio of 15.26 and a beta of 0.97.

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

SEI Investments Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be issued a $0.52 dividend. This represents a yield of 116.0%. The ex-dividend date of this dividend is Monday, June 8th. SEI Investments’s dividend payout ratio 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.