SEI Investments (NASDAQ:SEIC) Given Market Perform Rating at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Thursday,Benzinga reports. They currently have a $90.00 price objective on the asset manager’s stock, up from their previous price objective of $86.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 4.40% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Up 3.9 %

NASDAQ:SEIC opened at $86.20 on Thursday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company’s 50 day moving average price is $82.94 and its 200-day moving average price is $74.60. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.44 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. As a group, sell-side analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at $514,410. The trade was a 60.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,194 shares of company stock valued at $15,769,472 over the last three months. 14.30% of the stock is owned by insiders.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the period. Geode Capital Management LLC increased its position in SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the period. Portman Square Capital LLP increased its position in SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after purchasing an additional 149,840 shares during the period. UMB Bank n.a. purchased a new position in SEI Investments during the 4th quarter valued at $9,096,000. Finally, Verition Fund Management LLC increased its position in SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after purchasing an additional 107,222 shares during the period. Hedge funds and other institutional investors 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.