SEI Investments (NASDAQ:SEIC) Given Consensus Rating of “Hold” by Brokerages

SEI Investments (NASDAQ:SEIC) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $90.00.

A number of equities analysts recently commented on SEIC shares. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Morgan Stanley lifted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th.

SEI Investments Trading Up 0.2 %

Shares of SEIC stock opened at $86.30 on Thursday. The business’s 50-day moving average price is $83.40 and its 200-day moving average price is $75.24. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is presently 22.17%.

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

Insiders Place Their Bets

In other SEI Investments 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 completion of the sale, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently modified their holdings of the company. Metis Global Partners LLC increased its holdings in shares of SEI Investments by 3.4% during the fourth quarter. Metis Global Partners LLC now owns 6,795 shares of the asset manager’s stock valued at $560,000 after acquiring an additional 226 shares in the last quarter. US Bancorp DE increased its holdings in shares of SEI Investments by 0.6% during the fourth quarter. US Bancorp DE now owns 36,509 shares of the asset manager’s stock valued at $3,011,000 after acquiring an additional 235 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of SEI Investments by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 7,949 shares of the asset manager’s stock valued at $656,000 after acquiring an additional 322 shares in the last quarter. Hahn Capital Management LLC increased its holdings in shares of SEI Investments by 46.0% during the fourth quarter. Hahn Capital Management LLC now owns 126,910 shares of the asset manager’s stock valued at $10,468,000 after acquiring an additional 39,991 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of SEI Investments during the fourth quarter valued at approximately $993,000. Institutional investors own 70.59% of the company’s stock.

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.