SEI Investments (NASDAQ:SEIC) Hits New 52-Week High – Here’s What Happened

SEI Investments Company (NASDAQ:SEIC) shares reached a new 52-week high on Wednesday . The stock traded as high as $103.75 and last traded at $103.14, with a volume of 871104 shares traded. The stock had previously closed at $101.52.

Analyst Ratings Changes

Several brokerages recently issued reports on SEIC. Morgan Stanley lifted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, UBS Group reissued a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $122.60.

SEI Investments Stock Performance

The firm has a fifty day simple moving average of $92.65 and a 200-day simple moving average of $86.56. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 18.17 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. Analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a $0.52 dividend. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is currently 18.34%.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares of the company’s stock, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 112,332 shares of company stock valued at $10,467,693. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Several large investors have recently bought and sold shares of SEIC. Commerce Bank increased its holdings in SEI Investments by 1.3% in the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock valued at $825,000 after purchasing an additional 133 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in SEI Investments by 1.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock worth $981,000 after buying an additional 141 shares during the last quarter. Root Financial Partners LLC boosted its holdings in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after buying an additional 141 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of SEI Investments by 1.2% during the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock worth $965,000 after buying an additional 149 shares during the period. Finally, Elevation Wealth Partners LLC grew its position in shares of SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after buying an additional 152 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Company Profile

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.