SEI Investments Company (NASDAQ:SEIC) to Issue Dividend of $0.52

SEI Investments Company (NASDAQ:SEIC) declared a dividend on Wednesday, May 27th. Stockholders of record on Monday, June 8th will be given a dividend of 0.52 per share by the asset manager on Tuesday, June 16th. This represents a dividend yield of 116.0%. The ex-dividend date of this dividend is Monday, June 8th.

SEI Investments has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 34 consecutive years. SEI Investments has a dividend payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SEI Investments to earn $6.60 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 15.8%.

SEI Investments Trading Down 1.2%

NASDAQ:SEIC opened at $89.68 on Thursday. The stock has a 50-day simple moving average of $84.13 and a 200-day simple moving average of $83.26. The stock has a market cap of $10.79 billion, a P/E ratio of 15.30 and a beta of 1.00. SEI Investments has a 1 year low of $75.08 and a 1 year high of $93.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. As a group, analysts anticipate that SEI Investments will post 5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SEIC shares. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Morgan Stanley lowered their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Piper Sandler restated an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. UBS Group started coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Moderate Buy” and an average target price of $103.00.

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.