SEI Investments Company (NASDAQ:SEIC) Receives $109.20 Consensus Target Price from Brokerages

Shares of SEI Investments Company (NASDAQ:SEIC) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $110.1667.

A number of research analysts have weighed in on SEIC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research note on Monday, January 5th. Piper Sandler increased their price objective on shares of SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Morgan Stanley raised their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Finally, UBS Group started coverage on SEI Investments in a research note on Wednesday. They set a “buy” rating and a $115.00 target price on the stock.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the sale, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently bought and sold shares of the business. North Dakota State Investment Board bought a new stake in SEI Investments during the 4th quarter valued at $303,000. Convergence Investment Partners LLC lifted its stake in shares of SEI Investments by 13.0% during the 4th quarter. Convergence Investment Partners LLC now owns 27,640 shares of the asset manager’s stock worth $2,267,000 after purchasing an additional 3,176 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in SEI Investments by 23.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 311,567 shares of the asset manager’s stock valued at $25,554,000 after purchasing an additional 59,336 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in SEI Investments in the fourth quarter valued at about $23,390,000. Finally, Allworth Financial LP grew its stake in SEI Investments by 118.5% in the fourth quarter. Allworth Financial LP now owns 944 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 512 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 1.8%

Shares of SEIC stock opened at $84.41 on Friday. 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 has a one year low of $64.66 and a one year high of $93.96. The company’s fifty day moving average price is $84.42 and its 200-day moving average price is $84.95. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 14.99 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The firm had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given a dividend of $0.52 per share. This represents a dividend yield of 124.0%. The ex-dividend date was Monday, December 29th. SEI Investments’s dividend payout ratio (DPR) is 18.47%.

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.