SEI Investments (NASDAQ:SEIC) Price Target Raised to $86.00

SEI Investments (NASDAQ:SEIC) had its price target raised by Keefe, Bruyette & Woods from $76.00 to $86.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 5.06% from the company’s current price.

Several other brokerages also recently commented on SEIC. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.75.

SEI Investments Stock Up 0.5 %

SEIC traded up $0.39 on Friday, hitting $81.86. The company’s stock had a trading volume of 67,584 shares, compared to its average volume of 599,683. The company’s 50 day simple moving average is $79.20 and its 200-day simple moving average is $71.08. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The firm has a market cap of $10.55 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 EPS. Equities analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now owns 7,284,964 shares in the company, valued at $624,539,963.72. This represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock worth $19,753,402 in the last 90 days. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently modified their holdings of the company. Aurora Investment Counsel increased its holdings in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after purchasing an additional 144 shares during the period. IFG Advisory LLC grew its position in shares of SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after buying an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares during the period. Creative Planning raised its holdings in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after acquiring an additional 182 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after acquiring an additional 213 shares during the period. 70.59% of the stock is owned by 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.