SEI Investments Company (NASDAQ:SEIC) stock has reached a 52-week high, touching $72.58, signaling a period of strong performance for the asset management firm. This milestone reflects a significant uptrend in the company's market valuation, underpinned by a robust 1-year change of 26.61%. Investors have shown increased confidence in SEIC's strategic initiatives and growth prospects, as evidenced by the stock's impressive climb from its lower levels a year ago. The achievement of this 52-week high marks a noteworthy moment for SEIC, as the company continues to navigate the dynamic financial landscape.
In other recent news, SEI Investments reported robust Q2 2024 earnings per share (EPS) of $1.05 and revenue of $519 million. Analysts at Oppenheimer have increased the stock price target for SEI Investments to $81 from $80, while maintaining an Outperform rating. This adjustment is in anticipation of a positive shift in the company's third-quarter earnings per share (EPS), attributed to better than expected performance in equity markets.
SEI Investments also announced that its alternative assets under administration have surpassed $1.5 trillion, reinforcing its position as a leading private credit fund administrator globally. The company also released its 2023 Corporate Responsibility Report, which outlines its Environmental, Social, and Governance (ESG) initiatives and programs.
In a partnership with Canoe Intelligence, SEI Investments launched an enhanced integration aimed at improving operational efficiency for family offices by automating the transmission of private equity and hedge fund valuations. Lastly, SEI Investments appointed Michael Lane as Executive Vice President and Head of Asset in North America, demonstrating its commitment to leadership and growth. These are the recent developments in SEI Investments' ongoing commitment to corporate citizenship, sustainability, and growth in the financial industry.
InvestingPro Insights
SEI Investments Company's recent 52-week high is further supported by several key financial metrics and analyst perspectives. According to InvestingPro data, SEIC's stock is trading at a P/E ratio of 18.74, which is relatively low compared to its PEG ratio of 0.63 for the last twelve months as of Q2 2024. This suggests that the stock may be undervalued relative to its earnings growth potential.
The company's financial health appears strong, with InvestingPro Tips highlighting that SEIC's cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations. This financial stability is complemented by SEIC's commitment to shareholder returns, as evidenced by its 37-year streak of maintaining dividend payments and a 10-year history of consecutive dividend raises.
SEIC's revenue growth of 5.62% over the last twelve months and a robust EBITDA growth of 28.46% during the same period indicate the company's ability to expand its business and improve profitability. This performance has not gone unnoticed by analysts, with InvestingPro reporting that 5 analysts have revised their earnings upwards for the upcoming period.
For investors seeking more comprehensive analysis, InvestingPro offers 10 additional tips on SEIC, providing deeper insights into the company's financial position and market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.