SEI Investments (NASDAQ:SEIC) Sees Large Volume Increase – What’s Next?

SEI Investments (NASDAQ:SEIC) shares saw strong trading volume on Friday . 318,265 shares were traded during 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.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SEIC shares. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their target price 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. Finally, Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.75.

SEI Investments Trading Up 0.7 %

The business has a 50-day moving average price of $82.72 and a 200-day moving average price of $74.25. The stock has a market cap of $10.94 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. Equities 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. Investors of record on Friday, December 27th were issued a $0.49 dividend. This represents a yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s payout ratio is presently 23.67%.

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the sale, the chairman now owns 7,284,964 shares of the company’s stock, valued at $624,539,963.72. The trade was a 1.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,258 shares of company stock worth $17,139,652 over the last quarter. 14.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd purchased a new position in SEI Investments during the third quarter worth about $45,000. Northwestern Mutual Wealth Management Co. boosted its holdings in SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 168 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.