Morgan Stanley Cuts SEI Investments (NASDAQ:SEIC) Price Target to $81.00

SEI Investments (NASDAQ:SEIC) had its target price decreased by equities researchers at Morgan Stanley from $84.00 to $81.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective points to a potential upside of 4.94% from the stock’s current price.

SEIC has been the topic of several other research reports. Piper Sandler boosted their price target 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. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday, January 30th. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One equities 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 company. Based on data from MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $90.20.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded down $0.09 on Wednesday, hitting $77.19. 213,467 shares of the company were exchanged, compared to its average volume of 681,727. The company’s 50 day moving average price is $80.08 and its two-hundred day moving average price is $78.67. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results 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 27.35% and a return on equity of 25.51%. Research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has authorized a share buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently modified their holdings of the business. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 4th quarter valued at $31,000. Allworth Financial LP increased its holdings in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Point72 DIFC Ltd acquired a new position in SEI Investments in the third quarter valued at about $45,000. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of SEI Investments during the 4th quarter worth about $55,000. 70.59% of the stock is owned by 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.