SEI Investments (NASDAQ:SEIC) Given New $94.00 Price Target at Oppenheimer

SEI Investments (NASDAQ:SEIC) had its target price increased by investment analysts at Oppenheimer from $85.00 to $94.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s target price suggests a potential upside of 14.84% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods increased their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.75.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $81.85 on Tuesday. The business has a fifty day simple moving average of $81.69 and a two-hundred day simple moving average of $72.62. SEI Investments has a 1 year low of $62.34 and a 1 year high of $87.25. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, equities analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 239,258 shares of company stock valued at $19,753,402 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in SEIC. Texas Permanent School Fund Corp raised its stake in SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after acquiring an additional 8,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of SEI Investments by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after purchasing an additional 8,094 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of SEI Investments by 12.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock valued at $4,925,000 after purchasing an additional 8,243 shares during the period. Portfolio Design Labs LLC purchased a new stake in shares of SEI Investments during the 3rd quarter valued at approximately $1,701,000. Finally, Quantinno Capital Management LP boosted its holdings in SEI Investments by 56.7% in the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock worth $1,217,000 after buying an additional 6,364 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.