SEI Investments (NASDAQ:SEIC) Sets New 52-Week High – Time to Buy?

Shares of SEI Investments Company (NASDAQ:SEIC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $107.13 and last traded at $106.9550, with a volume of 62250 shares traded. The stock had previously closed at $105.47.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods boosted 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. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $122.60.

SEI Investments Stock Up 0.4%

The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 18.93 and a beta of 0.96. The firm’s 50-day simple moving average is $97.20 and its two-hundred day simple moving average is $88.49.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. Sell-side analysts predict that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a $0.52 dividend. The ex-dividend date was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is currently 18.34%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Philip Mccabe sold 24,957 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the sale, the insider owned 54,884 shares of the company’s stock, valued at $5,765,015.36. This represents a 31.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the sale, the director owned 77,883 shares in the company, valued at $8,063,226.99. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 142,332 shares of company stock worth $13,745,813. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently bought and sold shares of the stock. Bison Wealth LLC purchased a new stake in shares of SEI Investments in the fourth quarter valued at $207,000. Baird Financial Group Inc. acquired a new position in SEI Investments in the 1st quarter valued at about $201,000. Geneos Wealth Management Inc. raised its stake in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp lifted its holdings in SEI Investments by 11.9% in the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 341 shares in the last quarter. Finally, CW Advisors LLC acquired a new stake in shares of SEI Investments during the 2nd quarter worth about $280,000. 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.