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

Shares of SEI Investments Company (NASDAQ:SEIC) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $103.00.

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

SEI Investments Stock Up 0.9%

SEIC opened at $89.42 on Friday. SEI Investments has a twelve month low of $75.08 and a twelve month high of $93.96. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. 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 market cap of $10.75 billion, a PE ratio of 15.26 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts expect that SEI Investments will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be issued a $0.52 dividend. The ex-dividend date is Monday, June 8th. This represents a yield of 116.0%. SEI Investments’s dividend payout ratio is presently 17.75%.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,447 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the sale, the chairman owned 6,875,783 shares in the company, valued at approximately $544,974,560.58. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction dated 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 completion of 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. Insiders have sold 116,447 shares of company stock worth $9,908,539 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of SEI Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of SEI Investments by 7.6% during the 1st quarter. NewEdge Advisors LLC now owns 4,894 shares of the asset manager’s stock worth $384,000 after buying an additional 346 shares during the last quarter. Henshaw Capital LLC increased its holdings in shares of SEI Investments by 0.6% during the 1st quarter. Henshaw Capital LLC now owns 43,101 shares of the asset manager’s stock worth $3,382,000 after buying an additional 258 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of SEI Investments by 1.2% during the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock worth $965,000 after buying an additional 149 shares during the last quarter. Front Street Capital Management Inc. increased its holdings in shares of SEI Investments by 17.8% during the 1st quarter. Front Street Capital Management Inc. now owns 1,330 shares of the asset manager’s stock worth $104,000 after buying an additional 201 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of SEI Investments during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.