SEI Investments (NASDAQ:SEIC) Price Target Raised to $77.00

SEI Investments (NASDAQ:SEIC) had its price objective raised by analysts at Piper Sandler from $74.00 to $77.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s target price would indicate a potential upside of 2.53% from the stock’s previous close.

SEIC has been the subject of several other research reports. Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

SEI Investments stock opened at $75.10 on Thursday. The business’s 50-day simple moving average is $68.94 and its two-hundred day simple moving average is $67.40. The company has a market cap of $9.75 billion, a PE ratio of 19.66, a PEG ratio of 1.39 and a beta of 0.99. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $75.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the prior year, the firm earned $0.87 earnings per share. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 132,582 shares of company stock valued at $8,942,405. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System increased its stake in SEI Investments by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock worth $1,914,000 after buying an additional 500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of SEI Investments by 1.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock worth $6,185,000 after purchasing an additional 1,391 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in SEI Investments in the 1st quarter valued at $717,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in SEI Investments by 64.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock valued at $446,000 after purchasing an additional 2,418 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in SEI Investments by 0.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after purchasing an additional 244 shares during the last quarter. 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.