SEI Investments (NASDAQ:SEIC) PT Raised to $75.00

SEI Investments (NASDAQ:SEIC) had its price target upped by stock analysts at Morgan Stanley from $70.00 to $75.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would suggest a potential upside of 1.12% from the company’s current price.

Other equities research analysts have also issued reports about the company. Piper Sandler boosted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Finally, Oppenheimer upped their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

Shares of SEI Investments stock traded up $3.47 during trading on Thursday, hitting $74.17. 1,008,298 shares of the stock traded hands, compared to its average volume of 576,531. The stock has a market cap of $9.63 billion, a P/E ratio of 19.42, a PEG ratio of 1.39 and a beta of 0.99. SEI Investments has a twelve month low of $52.19 and a twelve month high of $75.97. The company has a fifty day moving average price of $68.63 and a two-hundred day moving average price of $67.32.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the company earned $0.87 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts expect that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the sale, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’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 in the company, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,582 shares of company stock worth $8,942,405 over the last three months. 14.30% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

Large investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD bought a new stake in SEI Investments in the second quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares in the last quarter. Bessemer Group Inc. boosted its stake 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 purchasing an additional 386 shares in the last quarter. Finally, Mather Group LLC. boosted its stake 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 purchasing an additional 500 shares in the last quarter. 70.59% of the stock is currently owned by 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.