SEI Investments (NASDAQ:SEIC) Issues Earnings Results

SEI Investments (NASDAQ:SEIC) released its quarterly earnings data on Wednesday. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02), Zacks reports. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%.

SEI Investments Price Performance

SEIC stock opened at $86.29 on Thursday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a fifty day moving average price of $82.94 and a two-hundred day moving average price of $74.60.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is currently 23.67%.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of analyst reports. Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research report on Thursday. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday. Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.00.

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $514,410. The trade was a 60.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,194 shares of company stock worth $15,769,472. 14.30% of the stock is owned by insiders.

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.