SEI Investments Company (NASDAQ:SEIC) stock soared to an all-time high of $81.68, marking a significant milestone for the asset management firm. This peak reflects a remarkable year-over-year growth, with SEIC's stock price surging by 39.64% over the past 12 months. Investors have shown increasing confidence in the company's performance and strategic initiatives, which have been pivotal in driving the stock to unprecedented levels. The all-time high serves as a testament to SEIC's strong market position and its ability to generate value for shareholders amidst a dynamic financial landscape.
In other recent news, SEI Investments has been the focus of considerable attention following robust third-quarter earnings and revenue growth. The company reported an earnings per share (EPS) of $1.19, surpassing both analyst expectations and consensus estimates. This performance was largely attributed to higher-than-anticipated revenue in the Private Banking & Trust and Investment Advisors segments. Following these developments, both Piper Sandler and Oppenheimer have raised their price targets for SEI Investments, reflecting confidence in the company's potential for continued financial growth.
SEI Investments also announced a record-breaking third quarter, with significant top-line growth and effective expense management. The company's assets under management, administration, and advisement reached new highs, with net sales events totaling $46 million. Additionally, SEI Investments' revenue from the Federal Deposit Insurance Corporation (FDIC) cash program is projected to double quarter over quarter in the fourth quarter due to enhancements that increased the cash sweep.
These recent developments indicate a positive trend for SEI Investments, with both Piper Sandler and Oppenheimer adjusting their future projections for the company. However, it's important to note that these are projections and actual results may vary.
InvestingPro Insights
SEI Investments Company's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's strong market position is reflected in its impressive market capitalization of $10.51 billion. SEIC's financial health is underscored by an InvestingPro Tip indicating that its cash flows can sufficiently cover interest payments, suggesting solid financial management.
The stock's surge to an all-time high is supported by robust financial performance. SEIC has demonstrated a revenue growth of 8.53% over the last twelve months, with a notable 12.72% increase in quarterly revenue. This growth trajectory is complemented by a healthy EBITDA growth of 19.26%, indicating improving operational efficiency.
Investor confidence in SEIC is further bolstered by the company's dividend history. An InvestingPro Tip highlights that SEIC has raised its dividend for 10 consecutive years, showcasing a commitment to shareholder returns. This is particularly noteworthy given the current dividend yield of 1.14% and a dividend growth rate of 6.98% over the last twelve months.
The stock's momentum is evident in its recent performance metrics, with a 13.37% price return over the past month and an impressive 41.97% return over the last year. These figures align with the article's mention of the 39.64% year-over-year growth.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for SEIC, providing a deeper understanding of the company's financial health and market position.
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