SEI Investments (NASDAQ:SEIC) Earns Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of SEI Investments (NASDAQ:SEIC) in a report issued on Thursday morning,Benzinga reports. They currently have a $90.00 target price on the asset manager’s stock, up from their previous target price of $86.00.

Several other equities research analysts have also commented on SEIC. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research note on Thursday. Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Oppenheimer boosted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Up 3.7 %

Shares of NASDAQ:SEIC opened at $86.03 on Thursday. The business’s 50 day moving average is $83.05 and its 200 day moving average is $74.68. The stock has a market cap of $11.09 billion, a P/E ratio of 19.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.41% and a net margin of 27.35%. On average, sell-side analysts anticipate that SEI Investments will post 4.89 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. This represents a yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is 22.17%.

Insider Activity

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,194 shares of company stock worth $15,769,472. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. J.W. Cole Advisors Inc. purchased a new stake in shares of SEI Investments during the fourth quarter valued at $224,000. Allworth Financial LP lifted its position in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the period. Principal Securities Inc. grew its stake in SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 155 shares during the last quarter. Portfolio Design Labs LLC increased its holdings in shares of SEI Investments by 22.5% in the fourth quarter. Portfolio Design Labs LLC now owns 30,102 shares of the asset manager’s stock valued at $2,483,000 after purchasing an additional 5,522 shares during the period. Finally, HTLF Bank purchased a new position in shares of SEI Investments in the fourth quarter worth about $214,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.