SEI Investments (NASDAQ:SEIC) Price Target Raised to $77.00

SEI Investments (NASDAQ:SEIC) had its price target hoisted by Piper Sandler from $74.00 to $77.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other research firms have also weighed in on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Oppenheimer raised their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Price Performance

SEI Investments stock opened at $75.10 on Thursday. The business has a 50 day simple moving average of $68.94 and a 200 day simple moving average of $67.38. The company has a market capitalization of $9.75 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $75.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities analysts anticipate that SEI Investments will post 4.25 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 over the last three months. 14.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently modified their holdings of SEIC. State of Michigan Retirement System grew its holdings in SEI Investments by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock worth $1,914,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in SEI Investments by 1.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock valued at $6,185,000 after buying an additional 1,391 shares during the period. Central Pacific Bank Trust Division bought a new position in SEI Investments during the first quarter worth about $717,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of SEI Investments by 64.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock valued at $446,000 after acquiring an additional 2,418 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of SEI Investments by 0.9% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock valued at $1,924,000 after acquiring an additional 244 shares during the period. 70.59% of the stock is 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.