SEI Investments Company (NASDAQ:SEIC) has reached an all-time high, with its stock price soaring to $86.69, marking a significant milestone for the asset management firm. According to InvestingPro data, the company boasts a robust financial health score of 3.91 out of 4 for profitability, with an impressive gross profit margin of 78.6%. This peak reflects a robust 1-year change, with the company's stock value surging by an impressive 40.19%. The achievement underscores investor confidence and the company's strong performance in the financial services sector, as it continues to innovate and expand its offerings in the competitive market. With a current ratio of 5.8 and minimal debt-to-equity of 0.01, SEIC demonstrates exceptional financial stability. For deeper insights into SEIC's valuation and growth prospects, investors can access comprehensive analysis through InvestingPro, which features additional ProTips and detailed financial metrics.
In other recent news, financial services company SEI has made significant strides in its recent operations. SEI has acquired Boston-based tax-smart technology provider LifeYield, a move that enhances SEI's unified managed household capabilities. The company has also reported robust growth in its recent quarterly results, with earnings per share (EPS) of $1.19 and record-breaking sales events totaling $46 million.
SEI has formed a strategic partnership with Arrow Global Group Limited to provide fund administration, loan operations, and investor services for Arrow's private credit fund based in Luxembourg. This partnership aims to meet the growing investor interest in private credit markets.
Piper Sandler and Oppenheimer have revised their price targets for SEI following the company's strong quarterly results, indicating confidence in SEI's potential for continued financial growth. SEI's revenue from the Federal Deposit Insurance Corporation cash program is also projected to double in the fourth quarter due to enhancements that increased the cash sweep. These are recent developments that underline SEI's strong position in the financial sector.
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