SEI Investments Company (NASDAQ:SEIC – Get Free Report) has been given a consensus rating of “Buy” by the seven analysts that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $122.60.
A number of brokerages have recently issued reports on SEIC. Raymond James Financial lifted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. UBS Group reissued a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Morgan Stanley lifted their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th.
Check Out Our Latest Analysis on SEIC
SEI Investments Stock Performance
SEI Investments (NASDAQ:SEIC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments will post 6.2 earnings per share for the current year.
SEI Investments Dividend Announcement
The business also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a $0.52 dividend. The ex-dividend date was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s payout ratio is 18.34%.
Insider Activity at SEI Investments
In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,332 shares of SEI Investments stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $87.39, for a total transaction of $640,743.48. Following the completion of the transaction, the chairman owned 6,818,451 shares of the company’s stock, valued at $595,864,432.89. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total value of $1,535,250.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at $94,264.35. The trade was a 94.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 112,332 shares of company stock worth $10,467,693 in the last 90 days. 4.80% of the stock is owned by company insiders.
Hedge Funds Weigh In On SEI Investments
Several hedge funds have recently bought and sold shares of SEIC. Oxbow Advisors LLC bought a new position in shares of SEI Investments in the first quarter worth $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of SEI Investments in the fourth quarter worth $3,217,000. Third View Private Wealth LLC bought a new stake in SEI Investments during the fourth quarter valued at $2,807,000. King Luther Capital Management Corp boosted its stake in SEI Investments by 10.2% during the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock valued at $11,273,000 after buying an additional 12,713 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in SEI Investments during the first quarter worth about $3,625,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.
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.
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