SEI Investments (NASDAQ:SEIC) Sets New 52-Week High – Should You Buy?

SEI Investments (NASDAQ:SEIC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.58 and last traded at $72.50, with a volume of 24306 shares. The stock had previously closed at $71.68.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer increased their price objective on shares of SEI Investments from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler upped their target price on shares of SEI Investments from $71.00 to $74.00 and gave the stock a “neutral” rating in a 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, the stock currently has an average rating of “Hold” and a consensus target price of $72.25.

SEI Investments Stock Performance

The stock has a fifty day moving average of $68.09 and a 200 day moving average of $67.31. The company has a market capitalization of $9.53 billion, a PE ratio of 19.20, a PEG ratio of 1.40 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The firm had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that SEI Investments will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction 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 in the company, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock worth $8,942,405 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Hedge funds have recently made changes to their positions in the business. Fairfield Financial Advisors LTD bought a new stake in SEI Investments during the second quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after buying an additional 275 shares during the period. Bessemer Group Inc. lifted its position in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the last quarter. Finally, Mather Group LLC. lifted its position in SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after buying an additional 500 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.