SEI Investments Company (NASDAQ:SEIC) Plans $0.52 Dividend

SEI Investments Company (NASDAQ:SEIC) declared a dividend on Wednesday, May 27th. Stockholders of record on Monday, June 8th will be paid a dividend of 0.52 per share by the asset manager on Tuesday, June 16th. This represents a dividend yield of 116.0%. The ex-dividend date of this dividend is Monday, June 8th.

SEI Investments has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 34 years. SEI Investments has a payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SEI Investments to earn $6.60 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 15.8%.

SEI Investments Price Performance

Shares of SEIC stock opened at $89.68 on Thursday. SEI Investments has a 12-month low of $75.08 and a 12-month high of $93.96. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 15.30 and a beta of 1.00. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $84.13 and a 200-day moving average of $83.26.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 EPS. On average, equities research analysts forecast that SEI Investments will post 5.89 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 7,447 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total value of $590,249.22. Following the sale, the chairman directly owned 6,875,783 shares of the company’s stock, valued at approximately $544,974,560.58. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at approximately $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 116,447 shares of company stock worth $9,908,539 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its holdings in SEI Investments by 1.2% in the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock valued at $965,000 after acquiring an additional 149 shares during the period. Front Street Capital Management Inc. raised its holdings in SEI Investments by 17.8% in the 1st quarter. Front Street Capital Management Inc. now owns 1,330 shares of the asset manager’s stock valued at $104,000 after acquiring an additional 201 shares during the period. Western Wealth Management LLC bought a new position in SEI Investments in the 1st quarter valued at about $43,000. Amundi raised its holdings in SEI Investments by 1,025.9% in the 1st quarter. Amundi now owns 188,563 shares of the asset manager’s stock valued at $14,797,000 after acquiring an additional 171,815 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 39.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,540 shares of the asset manager’s stock valued at $278,000 after acquiring an additional 996 shares during the period. 70.59% of the stock is owned by institutional investors.

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.