SEI Investments (SEIC) To Go Ex-Dividend on December 27th

SEI Investments (NASDAQ:SEIC) declared a semi-annual dividend on Thursday, December 12th,Wall Street Journal reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.49 per share by the asset manager on Wednesday, January 8th. This represents a yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46.

SEI Investments has increased its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend annually for the last 34 consecutive years. SEI Investments has a payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SEI Investments to earn $4.88 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 20.1%.

SEI Investments Stock Up 1.6 %

Shares of SEIC stock opened at $84.46 on Wednesday. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The company has a market cap of $10.89 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The business’s 50 day moving average is $79.95 and its two-hundred day moving average is $71.50.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the firm posted $0.87 EPS. The company’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts expect that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SEIC shares. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday. Oppenheimer upped their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Morgan Stanley upped their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.25.

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.