SEI Investments (NASDAQ:SEIC) Sees Large Volume Increase – Should You Buy?

Shares of SEI Investments (NASDAQ:SEICGet Free Report) saw strong trading volume on Friday . 318,265 shares changed hands during mid-day trading, a decline of 38% from the previous session’s volume of 513,192 shares.The stock last traded at $84.26 and had previously closed at $84.26.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SEIC shares. Oppenheimer boosted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods raised 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, Morgan Stanley boosted their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.75.

Get Our Latest Stock Report on SEI Investments

SEI Investments Trading Up 0.7 %

The firm has a market cap of $10.94 billion, a PE ratio of 20.50, a P/E/G ratio of 1.44 and a beta of 0.98. The business’s 50-day simple moving average is $82.72 and its 200 day simple moving average is $74.25.

SEI Investments (NASDAQ:SEICGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. Analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a $0.49 dividend. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is presently 23.67%.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the transaction, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Philip Mccabe sold 10,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total value of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares of the company’s stock, valued at approximately $3,305,425.04. This trade represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,258 shares of company stock valued at $17,139,652. 14.30% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

Several large investors have recently bought and sold shares of SEIC. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the period. Boston Trust Walden Corp raised its stake in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after purchasing an additional 20,020 shares during the last quarter. FMR LLC lifted its holdings in shares of SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after buying an additional 10,576 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after buying an additional 19,846 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

(Get Free Report)

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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