SEI Investments (NASDAQ:SEIC) Price Target Raised to $80.00

SEI Investments (NASDAQ:SEIC) had its price objective raised by Morgan Stanley from $75.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential downside of 2.32% from the stock’s current price.

Several other analysts have also recently commented on the stock. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.50.

SEI Investments Stock Down 0.0 %

Shares of SEIC stock opened at $81.90 on Friday. The stock has a 50-day simple moving average of $81.56 and a 200 day simple moving average of $72.46. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25. The stock has a market capitalization of $10.56 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. On average, sell-side analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the transaction, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 239,258 shares of company stock worth $19,753,402. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after buying an additional 300,704 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the last quarter. FMR LLC grew its stake in shares of SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after buying an additional 19,846 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.