SEI Investments (NASDAQ:SEIC) Hits New 52-Week High – Time to Buy?

SEI Investments Company (NASDAQ:SEIC)’s stock price 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 changing hands. The stock had previously closed at $101.52.

Analyst Ratings Changes

SEIC has been the subject of a number of research analyst reports. Raymond James Financial increased their price target on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler increased their target price on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $122.60.

SEI Investments Stock Up 1.6%

The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The business has a 50 day simple moving average of $92.14 and a 200 day simple moving average of $86.34. The stock has a market cap of $12.40 billion, a PE ratio of 18.19 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. On average, equities research analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal 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 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 is currently 18.34%.

Insider Activity at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the director owned 77,883 shares in the company, valued at approximately $7,092,804.81. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 87,332 shares of company stock valued at $7,900,543. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently bought and sold shares of SEIC. Elevation Wealth Partners LLC raised its holdings in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares during the last quarter. Finally, CX Institutional increased its holdings in shares of SEI Investments by 44.6% during the 2nd quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 164 shares during the last quarter. 70.59% of the stock is currently owned by 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.