SEI Investments Company (NASDAQ:SEIC) Given Average Recommendation of “Moderate Buy” by Analysts

SEI Investments Company (NASDAQ:SEIC) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $103.00.

A number of research firms have weighed in on SEIC. Morgan Stanley decreased their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Raymond James Financial reissued an “outperform” rating and issued a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st.

SEI Investments Trading Up 0.4%

SEIC stock opened at $91.59 on Tuesday. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average is $81.69 and its 200 day moving average is $82.47. SEI Investments has a 12-month low of $75.08 and a 12-month high of $93.96. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 15.63 and a beta of 1.00.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same period last year, the company posted $1.17 EPS. The business’s revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that SEI Investments will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at $83,958.36. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 120,447 shares of company stock worth $10,235,499. 4.80% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

Institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in shares of SEI Investments during the 3rd quarter valued at approximately $28,000. Community Bank N.A. purchased a new stake in shares of SEI Investments during the 3rd quarter valued at approximately $35,000. Allworth Financial LP raised its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.