SEI Investments Company (NASDAQ:SEIC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of SEI Investments Company (NASDAQ:SEIC) have received an average rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $122.60.

A number of equities research analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods raised their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. UBS Group restated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Raymond James Financial increased their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Morgan Stanley lifted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd.

Insiders Place Their Bets

In related news, Director Carl Guarino sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the sale, the director owned 18,308 shares in the company, valued at $1,889,202.52. This trade represents a 35.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the sale, the director directly owned 77,883 shares of the company’s stock, valued at approximately $8,063,226.99. The trade was a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 142,332 shares of company stock worth $13,745,813 in the last quarter. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in SEI Investments during the 2nd quarter valued at about $870,745,000. Bank of America Corp DE acquired a new stake in SEI Investments in the second quarter worth $255,067,000. Caisse de depot et placement du Quebec acquired a new stake in SEI Investments in the second quarter worth $87,924,000. Bank of New York Mellon Corp bought a new position in shares of SEI Investments during the second quarter worth $78,430,000. Finally, American Capital Management Inc. bought a new position in shares of SEI Investments during the second quarter worth $65,372,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

NASDAQ SEIC opened at $107.36 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 18.93 and a beta of 0.96. The company has a 50 day simple moving average of $97.20 and a 200-day simple moving average of $88.49. SEI Investments has a 52-week low of $75.08 and a 52-week high of $108.04.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the prior year, the business earned $1.78 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts predict that SEI Investments 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. Shareholders of record on Monday, June 8th were given a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio is 18.34%.

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.