SEI Investments (NASDAQ:SEIC) Issues Quarterly Earnings Results

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02), Zacks reports. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%.

SEI Investments Price Performance

Shares of SEIC stock opened at $86.29 on Thursday. The business has a 50-day moving average of $82.94 and a 200 day moving average of $74.60. The stock has a market capitalization of $11.12 billion, a PE ratio of 20.88, a P/E/G ratio of 1.44 and a beta of 0.98. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is currently 23.67%.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,194 shares of company stock worth $15,769,472. 14.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research note on Thursday. Morgan Stanley raised their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer raised their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler raised their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Company Profile

SEI Investments Company 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.