Shares of SEI Investments (NASDAQ:SEIC – Get Rating) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $60.50.
A number of brokerages recently commented on SEIC. The Goldman Sachs Group dropped their price target on SEI Investments to $58.00 in a research note on Friday, July 22nd. Keefe, Bruyette & Woods dropped their price target on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Piper Sandler dropped their price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley dropped their price target on SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, July 21st. Finally, William Blair reissued a “mkt perform” rating on shares of SEI Investments in a research note on Monday.
Institutional Investors Weigh In On SEI Investments
Hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue raised its holdings in shares of SEI Investments by 8.3% in the first quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock worth $3,304,000 after buying an additional 4,206 shares during the period. American Century Companies Inc. raised its holdings in shares of SEI Investments by 15.1% in the fourth quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager’s stock worth $1,131,000 after buying an additional 2,428 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of SEI Investments by 1.0% in the fourth quarter. Teacher Retirement System of Texas now owns 112,997 shares of the asset manager’s stock worth $6,886,000 after buying an additional 1,126 shares during the period. Commerce Bank raised its holdings in shares of SEI Investments by 2.2% in the fourth quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock worth $694,000 after buying an additional 240 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of SEI Investments by 1.5% in the first quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager’s stock worth $8,731,000 after buying an additional 2,100 shares during the period. 70.44% of the stock is currently owned by hedge funds and other institutional investors.
SEI Investments Stock Performance
NASDAQ SEIC opened at $53.90 on Monday. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a quick ratio of 5.30, a current ratio of 5.42 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $54.80 and a 200-day moving average price of $57.22. SEI Investments has a twelve month low of $51.07 and a twelve month high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The business had revenue of $481.67 million during the quarter, compared to the consensus estimate of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. As a group, equities research analysts predict that SEI Investments will post 3.68 EPS for the current fiscal year.
SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
SEI Investments Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 10th. SEI Investments’s dividend payout ratio (DPR) is presently 19.18%.
SEI Investments Company Profile
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.
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