SEI Investments (SEIC) Projected to Post Quarterly Earnings on Wednesday

SEI Investments (NASDAQ:SEIC) is anticipated to post its quarterly earnings results after the market closes on Wednesday, January 29th. Analysts expect SEI Investments to post earnings of $1.21 per share and revenue of $556,165.80 billion for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

SEI Investments Stock Down 1.7 %

Shares of NASDAQ:SEIC opened at $83.45 on Tuesday. The business’s 50 day moving average is $82.78 and its 200 day moving average is $74.42. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.44 and a beta of 0.98.

SEI Investments declared that its board has authorized a share repurchase 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a yield of 1.1%. This is an increase 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 currently 23.67%.

Analysts Set New Price Targets

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

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 19,010 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This represents a 0.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,194 shares of company stock worth $15,769,472 in the last quarter. Insiders own 14.30% of the company’s stock.

SEI Investments Company Profile

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.