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

Shares of SEI Investments Company (NASDAQ:SEIC) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $106.80.

Several research analysts recently commented on the company. Raymond James Financial reissued an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research report on Monday. Morgan Stanley increased their price objective on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Piper Sandler raised shares of SEI Investments from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $93.00 to $102.00 in a research report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th.

SEI Investments Stock Performance

Shares of SEIC opened at $88.01 on Wednesday. The stock has a market capitalization of $10.78 billion, a price-to-earnings ratio of 16.18 and a beta of 0.97. SEI Investments has a 12 month low of $64.66 and a 12 month high of $93.96. The firm has a fifty day simple moving average of $82.21 and a 200 day simple moving average of $85.65. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million for the quarter, compared to analyst estimates of $578.75 million. During the same period in the previous year, the business earned $1.19 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Research analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is presently 19.12%.

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the transaction, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. The trade was a 0.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. Arizona State Retirement System raised its position in shares of SEI Investments by 0.4% in the third quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock valued at $2,656,000 after purchasing an additional 129 shares during the period. Allworth Financial LP grew its stake in SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. Ethic Inc. raised its holdings in SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after acquiring an additional 133 shares during the period. Fifth Third Bancorp lifted its position in SEI Investments by 12.0% during the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after acquiring an additional 141 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in shares of SEI Investments by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock worth $2,533,000 after acquiring an additional 153 shares during the period. 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.