SEI Investments Company (NASDAQ:SEIC) stock has reached an all-time high, trading at $78.74, marking a significant milestone for the asset management firm. This peak reflects a robust 1-year change, with the stock price soaring by 42.96%. Investors have shown growing confidence in SEIC's business model and future prospects, propelling the stock to unprecedented levels. The company's performance, particularly over the past year, underscores its resilience and adaptability in a dynamic financial landscape, rewarding shareholders with substantial gains.
In other recent news, SEI Investments has reported a record-breaking third quarter, with earnings per share (EPS) reaching $1.19, surpassing both analyst expectations and consensus estimates. This performance was largely due to higher-than-anticipated revenue in the Private Banking & Trust and Investment Advisors segments. Following these developments, Piper Sandler increased its price target for SEI Investments to $77, while Oppenheimer raised its price target to $85, both indicating confidence in the company's continued financial growth. SEI Investments' revenue from the Federal Deposit Insurance Corporation (FDIC) cash program is projected to double in the fourth quarter, contributing positively to the company's earnings. Moreover, SEI Investments demonstrated robust top-line growth and effective expense management, with assets under management, administration, and advisement reaching new highs and net sales events totaling $46 million. The company also repurchased approximately 1.3 million shares for $86 million, returning $442 million to shareholders over the past year. These are among the recent developments for SEI Investments.
InvestingPro Insights
SEI Investments Company's recent stock performance aligns with several key financial indicators and analyst sentiments. According to InvestingPro data, SEIC's market capitalization stands at $10.29 billion, reflecting its substantial presence in the asset management sector. The company's P/E ratio of 18.33 suggests a reasonable valuation relative to its earnings, especially when considering its PEG ratio of 0.78, which indicates that the stock may be undervalued given its growth prospects.
SEIC's financial health is further underscored by its revenue growth, with a 12.72% increase in the most recent quarter. This growth trajectory is complemented by a strong gross profit margin of 78.56%, highlighting the company's operational efficiency. Additionally, SEIC boasts a robust return on assets of 21.49%, demonstrating effective use of its resources to generate profits.
InvestingPro Tips reveal that SEIC has raised its dividend for 10 consecutive years and has maintained dividend payments for an impressive 37 consecutive years. This consistent dividend policy, coupled with a current dividend yield of 1.2%, showcases the company's commitment to shareholder returns. Furthermore, SEIC's strong cash flows sufficiently cover interest payments, indicating financial stability.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for SEIC, providing deeper insights into the company's financial position and market outlook.
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