Shares of SEI Investments (NASDAQ:SEIC) have been given an average recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $72.75.
Several research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, May 1st. BidaskClub lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. William Blair lowered shares of SEI Investments from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 12th. Finally, Sandler O’Neill set a $81.00 target price on shares of SEI Investments and gave the company a “buy” rating in a research note on Tuesday, April 10th.
SEIC stock traded down $0.19 during midday trading on Thursday, reaching $65.79. The company had a trading volume of 20,891 shares, compared to its average volume of 673,280. SEI Investments has a 1 year low of $52.20 and a 1 year high of $78.35. The company has a quick ratio of 6.31, a current ratio of 6.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.76 and a beta of 1.27.
SEI Investments declared that its board has initiated a share repurchase plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a semiannual dividend, which will be paid on Friday, June 22nd. Investors of record on Thursday, June 14th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, June 13th. This represents a yield of 0.94%. SEI Investments’s payout ratio is presently 25.86%.
In other SEI Investments news, EVP Stephen Meyer sold 4,524 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $77.59, for a total value of $351,017.16. Following the sale, the executive vice president now directly owns 97,748 shares in the company, valued at approximately $7,584,267.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph P. Ujobai sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $66.52, for a total transaction of $1,330,400.00. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SEIC. Victory Capital Management Inc. grew its position in SEI Investments by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 46,345 shares of the asset manager’s stock worth $3,330,000 after purchasing an additional 5,228 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of SEI Investments by 11.5% during the 4th quarter. CIBC Asset Management Inc now owns 7,091 shares of the asset manager’s stock worth $510,000 after acquiring an additional 734 shares during the period. Alps Advisors Inc. bought a new position in shares of SEI Investments during the 4th quarter worth about $257,000. Crossmark Global Holdings Inc. lifted its holdings in shares of SEI Investments by 19.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 17,476 shares of the asset manager’s stock worth $1,256,000 after acquiring an additional 2,878 shares during the period. Finally, ING Groep NV bought a new position in shares of SEI Investments during the 4th quarter worth about $267,000. Institutional investors own 70.01% of the company’s stock.
About SEI Investments
SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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