SEI Investments Company (NASDAQ:SEIC) stock has reached an all-time high, touching a price level of $82.01. This milestone underscores a period of robust growth for the asset management firm, reflecting investor confidence and a favorable market environment. Over the past year, SEIC has witnessed a remarkable 41.57% increase in its stock value, outpacing many of its competitors and signaling strong operational performance and investor optimism about the company's future prospects. This significant appreciation in stock price marks a notable achievement for SEIC and its shareholders.
In other recent news, SEI Investments reported a record-breaking third quarter, with earnings per share (EPS) of $1.19, surpassing analyst expectations and consensus estimates. This was largely attributed to higher-than-anticipated revenue in the Private Banking & Trust and Investment Advisors segments, netting core EPS of $1.11 after adjusting for one-time benefits. Additionally, SEI Investments' firmwide operating margins rose to 27% from 26%, and the company experienced a record quarter for sales events, totaling $46 million.
Following these developments, Piper Sandler has raised its price target for SEI Investments from $74 to $77, maintaining a neutral stance on the stock. The firm also revised its EPS projections for 2024 and 2025 upward to $4.31 and $4.65, respectively. Similarly, Oppenheimer increased its price target on SEI Investments' shares to $85 from the previous $81, maintaining an Outperform rating on the stock.
Furthermore, 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. Finally, the company's assets under management, administration, and advisement reached new highs, with net sales events totaling $46 million. These are among the recent developments that indicate a strong financial performance by SEI Investments.
InvestingPro Insights
SEI Investments Company's (SEIC) recent stock performance aligns with several key financial indicators and analyst perspectives. According to InvestingPro data, SEIC's market capitalization stands at $10.56 billion, reflecting its substantial presence in the asset management industry. The company's P/E ratio of 19.55 suggests a reasonable valuation relative to its earnings, especially considering its strong growth trajectory.
InvestingPro Tips highlight that SEIC has raised its dividend for 10 consecutive years, demonstrating a commitment to shareholder returns that complements its stock price appreciation. This is further reinforced by the company's 37-year streak of maintaining dividend payments, a testament to its financial stability and long-term value creation for investors.
The company's recent performance is particularly noteworthy, with a 21.31% price total return over the last three months, as reported by InvestingPro. This aligns with the article's mention of SEIC's 41.57% increase over the past year, indicating sustained momentum in investor interest.
Analysts appear optimistic about SEIC's prospects, with InvestingPro noting that five analysts have revised their earnings upwards for the upcoming period. This positive sentiment is supported by the company's strong financials, including a revenue growth of 8.53% over the last twelve months and an impressive EBITDA growth of 19.26% for the same period.
For investors seeking more comprehensive insights, InvestingPro offers 11 additional tips for SEIC, providing a deeper analysis of the company's financial health and market position.
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