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

SEI Investments (NASDAQ:SEIC) had its price objective decreased by Morgan Stanley from $84.00 to $81.00 in a report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Several other research firms have also commented on SEIC. Piper Sandler increased their target price on 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 SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.20.

SEI Investments Stock Up 0.4 %

Shares of NASDAQ SEIC opened at $77.59 on Wednesday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The business’s 50 day moving average is $79.95 and its two-hundred day moving average is $78.67. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.41 and a beta of 0.94.

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 return on equity of 25.51% and a net margin of 27.35%. Analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by insiders.

Institutional Trading of SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC increased its stake in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after buying an additional 144 shares during the period. Ashton Thomas Securities LLC raised its position in SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after buying an additional 145 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of 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 acquiring an additional 158 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other 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.