SEI Investments (NASDAQ:SEIC) Sets New 52-Week High on Analyst Upgrade

Shares of SEI Investments Company (NASDAQ:SEIC) hit a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $105.00 to $114.00. Piper Sandler currently has an overweight rating on the stock. SEI Investments traded as high as $96.73 and last traded at $96.0590, with a volume of 25204 shares. The stock had previously closed at $95.45.

Other equities analysts have also issued research reports about the company. Raymond James Financial upped their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Morgan Stanley boosted their price target on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $116.20.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the transaction, the insider owned 921 shares in the company, valued at $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at $5,039,448.88. This trade represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,332 shares of company stock worth $9,908,883. Insiders own 4.80% of the company’s stock.

Institutional Trading of SEI Investments

Several hedge funds have recently modified their holdings of SEIC. Allworth Financial LP boosted its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. Commerce Bank increased its position in SEI Investments by 1.3% in the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after purchasing an additional 133 shares during the last quarter. Root Financial Partners LLC increased its position in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its position in SEI Investments by 1.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after purchasing an additional 141 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its position in SEI Investments by 1.2% during the first quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock valued at $965,000 after purchasing an additional 149 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Up 0.2%

The business’s 50 day simple moving average is $90.34 and its 200 day simple moving average is $85.18. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $11.50 billion, a PE ratio of 16.33 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $641.82 million. During the same period in the prior year, the company earned $1.17 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that SEI Investments Company will post 5.92 earnings per share for the current year.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio is 17.75%.

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.