SEI Investments (NASDAQ:SEIC) Price Target Increased to $77.00 by Analysts at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price objective increased by Piper Sandler from $74.00 to $77.00 in a research note published on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the asset manager’s stock.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Oppenheimer raised their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

Shares of SEIC opened at $75.10 on Thursday. The stock has a 50-day simple moving average of $68.94 and a 200-day simple moving average of $67.36. The stock has a market capitalization of $9.87 billion, a PE ratio of 20.52, a PEG 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 data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter last year, the business posted $0.87 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. Analysts predict that SEI Investments will post 4.25 EPS for the current year.

SEI Investments declared that its board has approved a stock repurchase 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 buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred 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 transaction, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock valued at $8,942,405 over the last quarter. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. IFG Advisory LLC increased its holdings in shares of SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after purchasing an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 168 shares during the period. Creative Planning increased its holdings in shares of SEI Investments by 2.3% in the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the period. Diversified Trust Co increased its holdings in shares of SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after purchasing an additional 202 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

About SEI Investments

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.