SEI Investments (NASDAQ:SEIC) Given New $87.00 Price Target at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price target raised by Piper Sandler from $77.00 to $87.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other research firms have also recently weighed in on SEIC. Morgan Stanley boosted their price objective 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. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report 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 assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average target price of $83.25.

SEI Investments Trading Up 1.6 %

SEI Investments stock opened at $84.46 on Monday. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The stock has a fifty day simple moving average of $80.19 and a two-hundred day simple moving average of $71.59. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. On average, equities research analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be issued a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

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

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 239,258 shares of company stock worth $19,753,402 in the last 90 days. 14.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments during the 2nd quarter valued at $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd purchased a new stake in SEI Investments in the 3rd quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in 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 acquiring an additional 168 shares during the period. 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.