Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for SEI Investments (NASDAQ:SEIC)

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

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

SEI Investments Price Performance

SEIC stock opened at $86.20 on Thursday. The business has a 50 day simple moving average of $82.94 and a two-hundred day simple moving average of $74.60. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The company has a market capitalization 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 results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. Sell-side analysts anticipate that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a share 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 often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $514,410. The trade was a 60.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,194 shares of company stock valued at $15,769,472 in the last quarter. 14.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in SEI Investments by 13.5% in the third 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. Boston Trust Walden Corp raised its position in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the period. FMR LLC raised its position in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares during the period. Finally, Raymond James & Associates raised its position in SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after purchasing an additional 19,846 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.