Shares ofSEI Investments (
) remain under accumulation after the company reported solid
second-quarter results last week.
The company provides wealth management and advisory services
to corporations, financial institutions, financial advisers and
SEI Investments has a market capitalization of $5.5 billion.
It pays a semi-annual dividend of 20 cents a share, giving it a
yield of 1.3%. It has a solid dividend growth rate of 45%.
On July 18, the company reported second-quarter profit of 47
cents a share, up 68% from a year ago and nicely above the
consensus estimate of 34 cents. Sales rose 14% to $274.6 million.
Its Private Bank segment accounted for just over $95 million in
revenue. Revenue was pretty much evenly split in its other three
segments: Investment advisers, institutional investors and
Headed into Tuesday, SEI Investments showed three straight
days of gains in above-average volume. Last week, it cleared a
base-on-base pattern with a buy point of 31.39. At one point
Tuesday, it was only 2% above the buy point, still within buying
The good news is that several names in IBD's
Finance-Investment Management group continue to boast strong
fundamentals and technicals. The bad news is that the group has
been falling in IBD's 197 Industry Group Rankings. It recently
ranked 98th, down from 30th three months ago. Still, the group is
up 28% year-to-date and has rallied nicely after a 13% pullback.
It's up 11% since June 24 compared to an 8% gain for the S&P
Other leaders in the group still working on bases or within
buying range includeBlackRock (
), Blackstone Group (
) andWaddell & Reed Financial (