SEI Investments’ (SEIC) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of SEI Investments (NASDAQ:SEIC) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $73.00 price objective on the asset manager’s stock, down from their prior price objective of $74.00.

SEIC has been the topic of several other reports. Piper Sandler decreased their target price on shares of SEI Investments from $72.00 to $71.00 and set a neutral rating on the stock in a report on Thursday. Oppenheimer upped their price objective on SEI Investments from $77.00 to $80.00 and gave the company an outperform rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $71.25.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $66.07 on Thursday. The business’s 50 day moving average price is $66.35 and its 200 day moving average price is $66.89. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.32 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.49% and a net margin of 25.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, analysts predict that SEI Investments will post 4.19 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were given a $0.46 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.84 dividend on an annualized basis and a yield of 2.78%. SEI Investments’s payout ratio is presently 25.14%.

Insiders Place Their Bets

In related news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now owns 656,386 shares in the company, valued at $44,004,117.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total transaction of $4,803,400.00. Following the completion of the sale, the chairman now directly owns 7,795,471 shares in the company, valued at $534,925,220.02. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $8,406,920 over the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Institutional investors have recently bought and sold shares of the business. Boston Trust Walden Corp lifted its holdings in shares of SEI Investments by 1.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager’s stock valued at $83,566,000 after purchasing an additional 24,621 shares during the last quarter. Bank of New York Mellon Corp increased its position in SEI Investments by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after acquiring an additional 36,810 shares during the period. Brown Advisory Inc. increased its position in SEI Investments by 1.6% in the 4th quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager’s stock valued at $43,998,000 after acquiring an additional 10,700 shares during the period. Charles Schwab Investment Management Inc. raised its stake in SEI Investments by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager’s stock valued at $41,652,000 after acquiring an additional 12,453 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in SEI Investments by 0.8% during the 4th quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock worth $35,049,000 after acquiring an additional 4,212 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.