SEI Investments (NASDAQ:SEIC) Given New $113.00 Price Target at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its price target hoisted by Keefe, Bruyette & Woods from $107.00 to $113.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.

A number of other brokerages also recently commented on SEIC. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Piper Sandler restated an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Morgan Stanley lifted their price objective on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.40.

SEI Investments Trading Up 0.8%

Shares of NASDAQ:SEIC opened at $95.45 on Friday. The company has a market capitalization of $11.48 billion, a PE ratio of 16.29 and a beta of 0.97. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments has a 12-month low of $75.08 and a 12-month high of $96.60. The business’s fifty day simple moving average is $90.34 and its 200-day simple moving average is $85.17.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. During the same period in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts predict that SEI Investments will post 5.92 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s payout ratio is 17.75%.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the sale, the insider owned 54,884 shares of the company’s stock, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,332 shares of company stock worth $9,908,883 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

Several institutional investors have recently made changes to their positions in SEIC. Bank of America Corp DE lifted its holdings in SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after purchasing an additional 133,057 shares in the last quarter. Geode Capital Management LLC boosted its holdings in SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after buying an additional 109,974 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after buying an additional 308,988 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in SEI Investments by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after buying an additional 20,054 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of SEI Investments by 1.2% during the first quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock valued at $143,025,000 after acquiring an additional 21,731 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.