SEI Investments (SEIC) To Go Ex-Dividend on December 27th

SEI Investments (NASDAQ:SEIC) declared a semi-annual dividend on Friday, December 13th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be paid a dividend of 0.49 per share by the asset manager on Wednesday, January 8th. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46.

SEI Investments has increased its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend every year for the last 33 years. SEI Investments has a dividend payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SEI Investments to earn $4.88 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 20.1%.

SEI Investments Trading Down 0.9 %

SEIC stock opened at $85.83 on Friday. The firm has a market cap of $11.06 billion, a PE ratio of 20.73, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 1 year low of $61.28 and a 1 year high of $87.25. The company has a fifty day simple moving average of $78.17 and a 200 day simple moving average of $70.66.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,010 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares of the company’s stock, valued at $608,570,469.94. This represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,058 shares of company stock worth $7,245,697. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.50.

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.