SEI Investments (NASDAQ:SEIC) Sets New 1-Year High – Time to Buy?

SEI Investments Company (NASDAQ:SEIC)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $105.53 and last traded at $105.0870, with a volume of 32135 shares traded. The stock had previously closed at $104.19.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. UBS Group reiterated a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Piper Sandler raised their target price on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Keefe, Bruyette & Woods raised their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $122.60.

SEI Investments Trading Up 1.0%

The company has a fifty day simple moving average of $93.18 and a 200-day simple moving average of $86.82. 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 stock has a market cap of $12.63 billion, a price-to-earnings ratio of 18.57 and a beta of 0.96.

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

SEI Investments Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a dividend of $0.52 per share. This represents a yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is presently 18.34%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the sale, the insider directly owned 921 shares of the company’s stock, valued at $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was 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 of the company’s stock, valued at $1,889,202.52. This represents a 35.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 102,332 shares of company stock valued at $9,556,993. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of SEI Investments during the first quarter worth about $43,000. 70.59% of the stock is owned by institutional investors.

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.