SEI Investments (NASDAQ:SEIC) Reaches New 52-Week High – Still a Buy?

SEI Investments Company (NASDAQ:SEIC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $105.53 and last traded at $105.0870, with a volume of 32135 shares changing hands. The stock had previously closed at $104.19.

Analysts Set New Price Targets

Several equities research analysts have commented on SEIC shares. UBS Group reiterated a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $122.60.

SEI Investments Trading Up 0.0%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 18.48 and a beta of 0.96. The company has a 50 day moving average of $93.76 and a 200-day moving average of $87.08.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the prior year, the business earned $1.78 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current 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 $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is 18.34%.

Insiders Place Their Bets

In other news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $103.53, for a total transaction 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 approximately $8,063,226.99. The trade was a 11.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 112,332 shares of company stock worth $10,592,293. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC grew its stake in SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after buying an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC raised its holdings 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 valued at $38,000 after buying an additional 141 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares during the period. Finally, Western Wealth Management LLC purchased a new position in shares of SEI Investments during the first quarter worth about $43,000. 70.59% of the stock is owned by hedge funds and other 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.