SEI Investments (NASDAQ:SEIC) Given New $119.00 Price Target at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its target price boosted by Keefe, Bruyette & Woods from $113.00 to $119.00 in a research report released on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the asset manager’s stock.

Several other research analysts have also weighed in on the company. Morgan Stanley increased their price objective on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Piper Sandler lifted their target price on SEI Investments from $105.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $122.60.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $96.73 on Thursday. The company’s 50-day moving average is $91.54 and its two-hundred day moving average is $86.04. SEI Investments has a 1-year low of $75.08 and a 1-year high of $102.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.06 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.42%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. Analysts forecast that SEI Investments will post 5.98 EPS for the current year.

SEI Investments Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

Insider Activity at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 7,332 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $87.39, for a total value of $640,743.48. Following the transaction, the chairman owned 6,818,451 shares of the company’s stock, valued at approximately $595,864,432.89. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 71,332 shares of company stock worth $6,278,583. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently bought and sold shares of the company. Tudor Investment Corp ET AL acquired a new position in shares of SEI Investments during the third quarter worth $4,811,000. Oxbow Advisors LLC acquired a new stake in SEI Investments in the first quarter valued at $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in SEI Investments in the fourth quarter valued at $3,217,000. Third View Private Wealth LLC acquired a new stake in SEI Investments in the fourth quarter valued at $2,807,000. Finally, M&T Bank Corp purchased a new stake in SEI Investments during the 4th quarter worth about $3,758,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Key Stories Impacting SEI Investments

Here are the key news stories impacting SEI Investments this week:

• Positive Sentiment: SEI Investments beat Q2 earnings expectations, reporting $1.66 per share versus consensus around $1.44-$1.45, while revenue came in above estimates at $641.62 million. The company also said revenue rose 14.7% year over year and operating income increased 33%, with operating margin reaching 31%. Article Title
• Positive Sentiment: Management highlighted record growth in revenue and EPS in the Q2 earnings call, which should support confidence in the company’s operating momentum and ability to convert higher activity into profits. Article Title
• Positive Sentiment: Analysts turned more constructive after the report: Morgan Stanley raised its price target to $125 and reiterated an overweight rating, while Keefe, Bruyette & Woods lifted its target to $119 with an outperform rating. Article Title
• Positive Sentiment: Assets under management and assets under administration reportedly rose year over year, reinforcing that the business is still seeing healthy client inflows and scale benefits. Article Title
• Neutral Sentiment: Despite the earnings beat, EPS was below last year’s level, which may have tempered enthusiasm and limited the stock’s upside reaction. Article Title

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.