SEI Investments (NASDAQ:SEIC) Announces Quarterly Earnings Results

SEI Investments (NASDAQ:SEIC) issued its earnings results on Wednesday. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02), Zacks reports. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%.

SEI Investments Stock Down 1.7 %

SEI Investments stock traded down $1.43 during trading hours on Wednesday, reaching $82.96. 596,955 shares of the company’s stock were exchanged, compared to its average volume of 543,611. The firm has a market capitalization of $10.69 billion, a PE ratio of 20.04, a PEG ratio of 1.44 and a beta of 0.98. The firm’s 50 day simple moving average is $82.88 and its 200 day simple moving average is $74.54. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a dividend of $0.49 per share. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 23.67%.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $514,410. This trade represents a 60.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock worth $15,769,472 in the last 90 days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SEIC has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Morgan Stanley upped their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $86.75.

About SEI Investments

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.