SEI Investments Company (NASDAQ:SEIC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of SEI Investments Company (NASDAQ:SEIC) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $109.6667.

Several equities research analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $106.00 price target on shares of SEI Investments in a research note on Friday, February 20th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. UBS Group started coverage on SEI Investments in a research note on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price for the company. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd.

SEI Investments Price Performance

SEIC stock opened at $81.80 on Thursday. The firm has a 50 day simple moving average of $84.14 and a two-hundred day simple moving average of $84.15. The stock has a market cap of $10.00 billion, a PE ratio of 14.53 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 company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. During the same period in the prior year, the firm posted $1.19 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Insider Activity

In other news, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction dated 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 completion of 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 legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the 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 sale, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently bought and sold shares of SEIC. Ashton Thomas Private Wealth LLC increased its position in shares of SEI Investments by 349.2% in the third quarter. Ashton Thomas Private Wealth LLC now owns 63,902 shares of the asset manager’s stock valued at $5,422,000 after acquiring an additional 49,676 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of SEI Investments by 3,554.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,042 shares of the asset manager’s stock worth $2,295,000 after purchasing an additional 26,302 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of SEI Investments by 21.1% in the third quarter. Allianz Asset Management GmbH now owns 174,266 shares of the asset manager’s stock worth $14,786,000 after purchasing an additional 30,411 shares during the last quarter. M&G PLC purchased a new position in SEI Investments during the 3rd quarter valued at about $10,413,000. Finally, Vanguard Group Inc. raised its position in SEI Investments by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock valued at $955,461,000 after purchasing an additional 30,970 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

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.