SEI Investments (NASDAQ:SEIC) Plans Semi-annual Dividend of $0.49

SEI Investments (NASDAQ:SEIC - Get Free Report) declared a semi-annual dividend on Friday, December 13th,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 dividend yield of 1.1%. The ex-dividend date is Friday, December 27th. This is an increase from SEI Investments's previous semi-annual dividend of $0.46.

SEI Investments has raised its dividend by an average of 7.3% per year over the last three years and has increased its dividend annually for the last 33 consecutive years. SEI Investments has a dividend payout ratio of 18.9% indicating that 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 $0.92 annual dividend with an expected future payout ratio of 18.9%.

SEI Investments Stock Down 0.9 %

Shares of SEI Investments stock traded down $0.75 during trading on Friday, hitting $85.83. The stock had a trading volume of 841,087 shares, compared to its average volume of 597,338. The company has a market capitalization of $11.06 billion, a PE ratio of 20.91, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 1 year low of $61.28 and a 1 year high of $87.25. The stock has a 50 day simple moving average of $77.84 and a 200 day simple moving average of $70.51.

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

Insider Buying and Selling

In related news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the sale, the executive vice president now directly owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction on Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares of the company's stock, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,058 shares of company stock valued at $7,245,697 over the last quarter. Corporate insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SEIC. Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $77.50.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.

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