SEI Investments (NASDAQ:SEIC) PT Raised to $85.00 at Oppenheimer

SEI Investments (NASDAQ:SEIC) had its price objective boosted by Oppenheimer from $81.00 to $85.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other research firms also recently commented on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler boosted their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Trading Up 0.9 %

NASDAQ:SEIC opened at $75.10 on Thursday. SEI Investments has a 12 month low of $52.19 and a 12 month high of $75.97. The company has a market cap of $9.87 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The company has a 50 day simple moving average of $68.94 and a two-hundred day simple moving average of $67.36.

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

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the 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 completion of the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,582 shares of company stock valued at $8,942,405 in the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Several institutional investors have recently added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP lifted its stake in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in SEI Investments in the first quarter worth about $14,172,000. Jupiter Asset Management Ltd. bought a new stake in SEI Investments in the second quarter worth about $7,787,000. West Coast Financial LLC lifted its stake in SEI Investments by 120.8% in the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in SEI Investments by 67.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock worth $10,376,000 after purchasing an additional 58,808 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

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.