SEI Investments (NASDAQ:SEIC) Given New $87.00 Price Target at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price objective increased by analysts at Piper Sandler from $77.00 to $87.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price objective would suggest a potential upside of 3.01% from the stock’s current price.

SEIC has been the subject of several other reports. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Oppenheimer boosted their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.25.

SEI Investments Trading Up 1.6 %

SEIC stock opened at $84.46 on Monday. The firm has a 50 day moving average of $79.95 and a 200-day moving average of $71.50. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 12-month low of $61.58 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. Sell-side analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction dated 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 sale, the chairman now directly owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 239,258 shares of company stock worth $19,753,402. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in SEI Investments by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock worth $76,751,000 after buying an additional 36,810 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in SEI Investments by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 201,787 shares of the asset manager’s stock worth $13,054,000 after purchasing an additional 4,676 shares during the period. Signaturefd LLC boosted its holdings in SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after purchasing an additional 213 shares during the period. iA Global Asset Management Inc. increased its stake in SEI Investments by 28.3% during the second quarter. iA Global Asset Management Inc. now owns 18,659 shares of the asset manager’s stock valued at $1,207,000 after purchasing an additional 4,111 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of SEI Investments by 15.0% during the second quarter. Concurrent Investment Advisors LLC now owns 5,843 shares of the asset manager’s stock worth $378,000 after purchasing an additional 764 shares during the period. Institutional investors and hedge funds 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.