SEI Investments (NASDAQ:SEIC) to Issue Dividend Increase - $0.49 Per Share

SEI Investments (NASDAQ:SEIC - Get Free Report) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Tuesday, June 17th will be given a dividend of 0.49 per share by the asset manager on Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.30%. This is a 6.5% increase from SEI Investments's previous quarterly dividend of $0.46.

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SEI Investments has increased its dividend payment by an average of 7.3% annually over the last three years and has raised its dividend every year for the last 34 years. SEI Investments has a dividend payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SEI Investments to earn $5.30 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 18.5%.

SEI Investments Stock Down 0.8%

SEI Investments stock traded down $0.67 during midday trading on Wednesday, hitting $85.30. The company's stock had a trading volume of 1,055,252 shares, compared to its average volume of 678,354. The stock's 50-day moving average price is $77.47 and its 200-day moving average price is $80.17. The company has a market capitalization of $10.62 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same quarter in the previous year, the business posted $0.99 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

Insider Buying and Selling at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider now directly owns 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the sale, the chief executive officer now owns 171,260 shares of the company's stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,214 shares of company stock valued at $13,925,963. 14.60% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after buying an additional 200 shares during the last quarter. Bison Wealth LLC bought a new position in SEI Investments during the fourth quarter worth about $207,000. Finally, Baird Financial Group Inc. bought a new position in SEI Investments during the first quarter worth about $201,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SEIC shares. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Piper Sandler upped their price target on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, SEI Investments has an average rating of "Moderate Buy" and an average price target of $87.60.

Get Our Latest Research Report on SEI Investments

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is 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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