SEI Investments (NASDAQ:SEIC) Issues Earnings Results

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates 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 Stock Performance

Shares of NASDAQ SEIC traded down $1.43 during mid-day trading on Wednesday, hitting $82.96. 596,955 shares of the stock traded hands, compared to its average volume of 533,706. The stock has a fifty day moving average price of $82.88 and a 200-day moving average price of $74.54. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.44 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 Increases Dividend

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

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the transaction, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares of the company’s stock, 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. Insiders sold a total of 186,194 shares of company stock valued at $15,769,472 in the last three months. Company insiders own 14.30% of the company’s stock.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

SEIC has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.75.

About SEI Investments

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.