SEI Investments (NASDAQ:SEIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SEI Investments (NASDAQ:SEIC) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also recently weighed in on SEIC. Piper Sandler upped 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. Raymond James Financial raised their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Morgan Stanley boosted their price objective on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, UBS Group reiterated a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Buy” and a consensus target price of $122.60.

SEI Investments Trading Up 2.3%

Shares of SEIC stock opened at $101.52 on Friday. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. SEI Investments has a fifty-two week low of $75.08 and a fifty-two week high of $102.29. The firm’s 50 day moving average price is $91.90 and its two-hundred day moving average price is $86.23. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 17.90 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts anticipate that SEI Investments will post 6.2 EPS for the current year.

SEI Investments Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Investors 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 (DPR) is presently 18.34%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the transaction, the director directly owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This represents a 11.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 7,332 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.39, for a total value of $640,743.48. Following the sale, the chairman owned 6,818,451 shares of the company’s stock, valued at $595,864,432.89. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 67,332 shares of company stock worth $5,913,943 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SEIC. Harrell Investment Partners LLC grew its stake in SEI Investments by 2.6% during the 2nd quarter. Harrell Investment Partners LLC now owns 9,707 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 247 shares in the last quarter. Elevation Wealth Partners LLC raised its position in shares of SEI Investments by 96.8% in the 2nd 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 in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of SEI Investments by 87.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 747 shares of the asset manager’s stock valued at $66,000 after buying an additional 348 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of SEI Investments by 12.6% during the 2nd quarter. Versant Capital Management Inc now owns 2,139 shares of the asset manager’s stock valued at $188,000 after buying an additional 239 shares during the last quarter. Finally, CX Institutional grew its position in shares of SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock worth $47,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.