SEI Investments (NASDAQ:SEIC) Earns Buy Rating from Analysts at UBS Group

UBS Group initiated coverage on shares of SEI Investments (NASDAQ:SEIC) in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $115.00 price objective on the asset manager’s stock.

SEIC has been the subject of a number of other research reports. Piper Sandler lifted their price objective on shares of SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. Morgan Stanley increased their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their target price on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $110.17.

SEI Investments Stock Up 0.0%

NASDAQ:SEIC opened at $84.45 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.95. SEI Investments has a one year low of $64.66 and a one year high of $93.96. The stock has a 50-day simple moving average of $84.49 and a 200 day simple moving average of $84.91.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 28th. The asset manager reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The company had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.During the same quarter last year, the business posted $1.19 EPS. SEI Investments’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Friday, October 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

SEI Investments Announces Dividend

The company also recently declared a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were paid a dividend of $0.52 per share. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s dividend payout ratio (DPR) is presently 18.47%.

Insiders Place Their Bets

In other news, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the sale, the chief executive officer owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. The trade was a 28.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.60% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in SEI Investments during the third quarter worth approximately $28,000. SJS Investment Consulting Inc. lifted its position in shares of SEI Investments by 142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 2nd quarter worth $34,000. Community Bank N.A. acquired a new position in shares of SEI Investments in the 3rd quarter worth $35,000. Finally, Allworth Financial LP raised its position in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after purchasing an additional 132 shares during the period. 70.59% of the stock is currently 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.