SEI Investments (NASDAQ:SEIC) Reaches New 12-Month High – Here’s Why

Shares of SEI Investments Company (NASDAQ:SEIC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $105.53 and last traded at $105.0870, with a volume of 32135 shares trading hands. The stock had previously closed at $104.19.

Analysts Set New Price Targets

A number of research analysts have recently commented on SEIC shares. 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 report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler lifted their price target on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial upped their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $122.60.

SEI Investments Stock Performance

The stock has a market capitalization of $12.63 billion, a P/E ratio of 18.57 and a beta of 0.96. 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 company has a 50-day moving average price of $93.18 and a two-hundred day moving average price of $86.82.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the previous year, the business posted $1.78 EPS. SEI Investments’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts forecast that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid 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 is presently 18.34%.

Insider Buying and Selling at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the sale, the insider owned 39,829 shares in the company, valued at approximately $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the transaction, the director owned 18,308 shares in the company, valued at $1,889,202.52. The trade was a 35.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 102,332 shares of company stock worth $9,556,993. 4.80% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of SEI Investments in the 4th quarter worth about $53,548,000. Clark Capital Management Group Inc. grew its holdings in SEI Investments by 2,333.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock valued at $52,973,000 after purchasing an additional 619,315 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in SEI Investments in the fourth quarter worth about $43,186,000. Qube Research & Technologies Ltd boosted its position in shares of SEI Investments by 82.5% during the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after buying an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec grew its stake in shares of SEI Investments by 31.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after buying an additional 317,703 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.