SEI Investments (NASDAQ:SEIC) Hits New 52-Week High – Here’s What Happened

SEI Investments Company (NASDAQ:SEIC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $107.13 and last traded at $106.9550, with a volume of 62250 shares. The stock had previously closed at $105.47.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Morgan Stanley lifted their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group reissued a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Finally, Zacks Research upgraded 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 given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $122.60.

SEI Investments Trading Up 1.1%

The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The firm has a market cap of $12.80 billion, a P/E ratio of 18.83 and a beta of 0.96. The firm’s 50-day simple moving average is $96.49 and its 200 day simple moving average is $88.21.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were issued a dividend of $0.52 per share. This represents a yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio is 18.34%.

Insiders Place Their Bets

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the sale, the director directly owned 77,883 shares of the company’s stock, valued at $8,063,226.99. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the sale, the director owned 18,308 shares in the company, valued at approximately $1,889,202.52. The trade was a 35.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 142,332 shares of company stock valued at $13,745,813. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted 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 purchasing an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Finally, Western Wealth Management LLC bought a new stake in shares of SEI Investments in the first quarter valued at approximately $43,000. 70.59% of the stock is currently owned by institutional investors.

About SEI Investments

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.