Zacks Investment Research upgraded shares of SEI Investments Company (NASDAQ:SEIC) from a hold rating to a buy rating in a research note published on Tuesday. The firm currently has $57.00 price objective on the stock.
According to Zacks, “SEI Investments shares have outperformed the Zacks categorized Investment management industry over the last three months. The company is well positioned for organic growth in the forthcoming quarters, based on its innovative and diverse global investment products and services. Also, robust asset inflows are likely to be accretive to the company’s overall growth. Further, impressive capital deployment activities should enhance shareholders' value. However, elevated expenses, increased reliance on fee-based revenues and regulatory constraints are the primary concerns for the company.”
SEI Investments Company (NASDAQ:SEIC) traded up 0.25% during midday trading on Tuesday, reaching $51.51. The company had a trading volume of 266,164 shares. The company has a market capitalization of $8.24 billion, a PE ratio of 26.02 and a beta of 1.45. The stock has a 50-day moving average price of $49.02 and a 200 day moving average price of $46.96. SEI Investments Company has a 12-month low of $32.01 and a 12-month high of $52.54.
SEI Investments Company (NASDAQ:SEIC) last issued its earnings results on Thursday, October 20th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $354.60 million for the quarter, compared to the consensus estimate of $353.82 million. SEI Investments Company had a return on equity of 25.02% and a net margin of 23.87%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Equities analysts forecast that SEI Investments Company will post $1.98 EPS for the current year.
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The firm also recently announced a semiannual dividend, which was paid on Friday, January 6th. Shareholders of record on Tuesday, December 27th were issued a $0.28 dividend. This represents a dividend yield of 1.14%. The ex-dividend date was Thursday, December 22nd. This is an increase from SEI Investments Company’s previous semiannual dividend of $0.26. SEI Investments Company’s dividend payout ratio (DPR) is currently 28.43%.
In related news, major shareholder Alfred P. West, Jr. sold 64,822 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $44.48, for a total transaction of $2,883,282.56. Following the sale, the insider now owns 11,427,042 shares of the company’s stock, valued at approximately $508,274,828.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 25,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $45.06, for a total value of $1,126,500.00. Following the sale, the insider now directly owns 11,347,282 shares in the company, valued at approximately $511,308,526.92. The disclosure for this sale can be found here. 17.10% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in SEI Investments Company by 26.4% in the second quarter. LS Investment Advisors LLC now owns 13,626 shares of the company’s stock valued at $656,000 after buying an additional 2,848 shares during the period. JLB & Associates Inc. increased its stake in SEI Investments Company by 1.5% in the second quarter. JLB & Associates Inc. now owns 196,906 shares of the company’s stock valued at $9,473,000 after buying an additional 2,866 shares during the period. Parametrica Management Ltd purchased a new stake in SEI Investments Company during the second quarter valued at $392,000. Old Mutual Global Investors UK Ltd. increased its stake in SEI Investments Company by 1,557.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 55,353 shares of the company’s stock valued at $2,663,000 after buying an additional 52,014 shares during the period. Finally, Oakbrook Investments LLC increased its stake in SEI Investments Company by 8.9% in the second quarter. Oakbrook Investments LLC now owns 13,500 shares of the company’s stock valued at $649,000 after buying an additional 1,100 shares during the period. 70.12% of the stock is currently owned by institutional investors.
About SEI Investments Company
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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