Key Points
- SEI Investments Chairman Alfred West, Jr. sold 50,000 shares on June 26 at an average price of $87.25, totaling about $4.36 million. After the sale, he still held more than 6.8 million shares.
- The company recently reported stronger-than-expected earnings, posting $1.44 EPS versus $1.29 expected, though quarterly revenue of $622.18 million fell short of estimates. Revenue still rose 12.9% year over year.
- Analysts remain mostly positive on SEIC, with seven Buy ratings and one Hold, and a consensus target price of about $103.00.
SEI Investments Company (NASDAQ:SEIC - Get Free Report) Chairman Alfred West, Jr. sold 7,332 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $87.39, for a total transaction of $640,743.48. Following the sale, the chairman directly owned 6,818,451 shares of the company's stock, valued at $595,864,432.89. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
SEI Investments Trading Down 0.9%
Shares of SEIC opened at $86.49 on Tuesday. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $93.96. The firm has a market capitalization of $10.40 billion, a P/E ratio of 14.76 and a beta of 0.97. 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 stock's fifty day simple moving average is $89.27 and its 200 day simple moving average is $84.56.
SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, equities research analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current year.
SEI Investments Announces Dividend
The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments's payout ratio is currently 17.75%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SEIC shares. Piper Sandler reissued an "overweight" rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 price target on shares of SEI Investments in a research report on Wednesday, April 29th. Morgan Stanley decreased their price objective on shares of SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research note on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $103.00.
View Our Latest Stock Analysis on SEIC
Institutional Investors Weigh In On SEI Investments
Hedge funds have recently modified their holdings of the stock. Bison Wealth LLC acquired a new stake in SEI Investments in the fourth quarter valued at approximately $207,000. Baird Financial Group Inc. purchased a new stake in shares of SEI Investments during the first quarter valued at approximately $201,000. Geneos Wealth Management Inc. lifted its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares in the last quarter. M&T Bank Corp lifted its position in shares of SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after purchasing an additional 341 shares in the last quarter. Finally, CW Advisors LLC purchased a new position in shares of SEI Investments in the second quarter valued at $280,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
SEI Investments Company Profile
(
Get Free Report)
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.
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