Oppenheimer Raises SEI Investments (NASDAQ:SEIC) Price Target to $85.00

SEI Investments (NASDAQ:SEIC) had its price target boosted by Oppenheimer from $81.00 to $85.00 in a report issued on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler raised their price target on SEI Investments from $71.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Price Performance

SEIC opened at $75.10 on Thursday. The stock’s 50 day simple moving average is $68.94 and its 200 day simple moving average is $67.38. The stock has a market cap of $9.75 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.39 and a beta of 0.99. SEI Investments has a 1-year low of $52.19 and a 1-year high of $75.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 23.25% and a net margin of 25.44%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.87 earnings per share. Research analysts expect that SEI Investments will post 4.25 EPS for the current fiscal year.

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

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 132,582 shares of company stock worth $8,942,405. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors have recently added to or reduced their stakes in SEIC. First Trust Direct Indexing L.P. grew its holdings in shares of SEI Investments by 21.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager’s stock worth $459,000 after purchasing an additional 1,165 shares during the period. Baker Tilly Wealth Management LLC grew its stake in SEI Investments by 22.5% during the third quarter. Baker Tilly Wealth Management LLC now owns 5,537 shares of the asset manager’s stock worth $383,000 after buying an additional 1,016 shares during the period. State of Alaska Department of Revenue increased its position in shares of SEI Investments by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 199,610 shares of the asset manager’s stock worth $13,811,000 after acquiring an additional 775 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in shares of SEI Investments by 3.1% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,659 shares of the asset manager’s stock valued at $1,429,000 after acquiring an additional 625 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of SEI Investments by 6,818.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 2,523 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.