SEI Investments (NASDAQ:SEIC – Get Rating) announced its half-year dividend on Monday, Dec. 5, reports Zacks. An investor registered on Monday, December 19th will receive a dividend of 0.43 per share from the asset manager on Thursday, January 5th. The ex-dividend date is Friday, December 16th. This is a positive change from SEI Investments’ previous semi-annual dividend of $0.40.
SEI Investments has increased its dividend payout by an average of 6.9% per annum over the last three years and has increased its dividend every year for the past 30 consecutive years. SEI Investments has a payout ratio of 23.1%, indicating that earnings are sufficient to cover the dividend. Equity analysts expect SEI Investments to earn $3.48 per share next year. This means the company can continue to cover an annual dividend of $0.80 with his 23.0% expected future payout ratio.
SEI Investments stock performance
The NASDAQ SEIC fell $1.26 in intraday trading on Wednesday to reach $60.51. 33,026 shares were exchanged against his average trading volume of 454,542 shares. His 50-day moving average for this business is $55.00 and his 200-day moving average is $54.99. His one-year low on SEI Investments is $46.30 and his one-year high is $64.29. The company has a market capitalization of $8.16 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.38 and a beta of 1.01.
SEI Investments (NASDAQ:SEIC – Get Rating) last reported quarterly results on Wednesday, October 26th. The asset manager reported his earnings per share (EPS) for the quarter was $0.77, beating analyst consensus expectations of $0.69 by $0.08. SEI Investments’ net profit margin was 24.98% and return on equity was 28.74%. The company posted revenue of $471.33 million for the quarter, compared to consensus expectations of $459.35 million. Equity analysts expect SEI Investments to post his earnings per share of 3.74 for the current financial year.
In separate news, major shareholder Alfred P. West Jr. sold 83,386 shares in the Thursday, September 15th transaction. The shares sold at an average price of $55.07 for a total of $4,592,067.02. After the sale was completed, the insider now directly owns his 9,136,792 shares in the company, valued at his $53,163,135.44. The sale was disclosed in documents filed with the Securities and Exchange Commission, available at this link. In related news, EVP Wayne Withrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares sold for a total of $817,650.00 at an average price of $54.51. Following the closing of the sale, the Executive Vice President of the Company now owns 38,799 shares of the Company’s stock valued at $2,114,933.49. The sale is disclosed in legal documents to the Securities and Exchange Commission, available on his website at the SEC. Also, his major shareholder, Alfred P. West, Jr., sold 83,386 shares of the company in a transaction on Thursday, Sept. 15. The shares were sold at an average price of $55.07 and the total transaction value he was $4,592,067.02. Following the completion of the sale, Insiders now directly own 9,136,792 shares of the Company’s stock valued at approximately $53,163,135.44. Please see here for the disclosure of this sale. Insiders say that in the past three months he has sold 98,486 shares of company stock worth $5,415,802. The insider owns his 25.40% of the company’s shares.
Institutional investors complicit in SEI investment
A hedge fund recently adjusted its stake in the company. Covestor Ltd increased his stake in SEI Investments by 121.3% in the first quarter. Covestor Ltd now owns 2,195 shares of the asset manager worth $132,000 after purchasing an additional 1,203 of his shares during this period. PDT Partners LLC purchased a new stake in his SEI Investments in the second quarter for approximately $209,000. XTX Topco Ltd bought a new position in SEI Investments for around $267,000 in the first quarter. Meiji Yasuda Life Insurance Company raised its SEI Investments stake by 14.8% in the first quarter. Meiji Yasuda Life Insurance Company owns 4,807 of his shares worth $289,000 in the asset manager after purchasing an additional 618 of his shares during the period. Finally, Private Advisor Group LLC increased his SEI Investments stake by 15.3% in the first quarter. Private Advisor Group LLC now owns 4,811 shares of Asset Manager stock valued at $290,000 after purchasing an additional 639 shares during this period. Hedge funds and other institutional investors own 70.50% of the company’s shares.
Analyst sets new price target
Recently, a number of analysts have published reports on SEIC stock. Morgan Stanley raised its price target on SEI Investments shares from $51.00 for her to $53.00 for him, giving it an “underweight” rating in its Thursday, Dec. 1 report. Oppenheimer raised his price target for SEI Investments from $59.00 to $67.00, giving the stock an “outperform” rating, in a research report on Wednesday, Nov. 16. StockNews.com featured his SEI Investments stake in a research report on Wednesday, October 12th. They set a “pending” rating on the company. Goldman Sachs Group Inc. raised its price target for SEI Investments from $56.00 to $63.00, giving the stock a “neutral” rating in a research report on Wednesday, November 23rd. Finally, TheStreet upgraded SEI Investments’ stock from a ‘c+’ rating to a ‘b-‘ rating in his Wednesday, November 16 research report. One investment analyst rated the stock as sell, two as hold, and two as buy. According to MarketBeat.com, the stock has a consensus valuation of “Hold” and a consensus target price of $59.80.
SEI Investments Company Profile
SEI Investments Company is a publicly traded investment management holding company. Through its subsidiaries, the company provides clients with wealth management, retirement and investment solutions, wealth management, wealth management, investment processing outsourcing solutions, financial services, and investment advisory services.
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