SEI Investments Company (NASDAQ:SEIC) announced a semiannual dividend on Wednesday, December 13th, Wall Street Journal reports. Shareholders of record on Wednesday, December 27th will be given a dividend of 0.30 per share by the asset manager on Monday, January 8th. This represents a yield of 0.85%. The ex-dividend date is Tuesday, December 26th. This is a boost from SEI Investments’s previous semiannual dividend of $0.28.
SEI Investments has increased its dividend by an average of 37.5% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. SEI Investments has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect SEI Investments to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 20.7%.
Shares of SEI Investments (NASDAQ SEIC) opened at $70.96 on Thursday. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. SEI Investments has a fifty-two week low of $47.88 and a fifty-two week high of $71.92. The stock has a market cap of $11,199.50, a PE ratio of 30.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. equities research analysts predict that SEI Investments will post 2.35 EPS for the current fiscal year.
Several research firms recently weighed in on SEIC. Mizuho reiterated a “buy” rating and issued a $72.00 target price on shares of SEI Investments in a research note on Friday, November 17th. Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, Oppenheimer increased their target price on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $67.25.
In related news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.77, for a total value of $1,175,400.00. Following the completion of the transaction, the insider now owns 32,540 shares of the company’s stock, valued at $1,912,375.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wayne Withrow sold 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total transaction of $703,500.00. The disclosure for this sale can be found here. Insiders sold 206,250 shares of company stock valued at $13,246,650 in the last three months. Company insiders own 16.50% of the company’s stock.
SEI Investments announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
SEI Investments Company Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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