SEI Investments (SEIC) Hits New 1-Year High at $71.47

Shares of SEI Investments Company (NASDAQ:SEIC) hit a new 52-week high during trading on Thursday . The stock traded as high as $71.47 and last traded at $70.53, with a volume of 326700 shares. The stock had previously closed at $70.08.

SEIC has been the topic of several research analyst reports. Mizuho restated a “buy” rating and set a $72.00 target price on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 target price on shares of SEI Investments in a report on Sunday, September 3rd. Finally, Oppenheimer increased their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $67.25.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52. The stock has a market cap of $11,035.72, a P/E ratio of 30.47, a PEG ratio of 2.49 and a beta of 1.40.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. analysts expect that SEI Investments Company will post 2.35 EPS for the current year.

SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In other SEI Investments news, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total value of $326,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wayne Withrow sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total value of $703,500.00. The disclosure for this sale can be found here. Insiders sold 206,250 shares of company stock worth $13,246,650 in the last three months. Insiders own 16.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. Bank of Montreal Can raised its position in shares of SEI Investments by 5.4% during the second quarter. Bank of Montreal Can now owns 34,917 shares of the asset manager’s stock worth $1,878,000 after purchasing an additional 1,787 shares during the period. Aperio Group LLC raised its position in shares of SEI Investments by 2.4% during the second quarter. Aperio Group LLC now owns 27,760 shares of the asset manager’s stock worth $1,493,000 after purchasing an additional 662 shares during the period. Russell Investments Group Ltd. raised its position in shares of SEI Investments by 3.4% during the second quarter. Russell Investments Group Ltd. now owns 84,725 shares of the asset manager’s stock worth $4,557,000 after purchasing an additional 2,819 shares during the period. World Asset Management Inc grew its holdings in shares of SEI Investments by 8.7% during the second quarter. World Asset Management Inc now owns 10,118 shares of the asset manager’s stock worth $544,000 after buying an additional 814 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of SEI Investments during the second quarter worth about $361,000. 70.55% of the stock is currently owned by institutional investors.

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About SEI Investments

SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.

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