SEI Investments (NASDAQ:SEIC) Given “Market Perform” Rating at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They currently have a $73.00 price objective on the asset manager’s stock, down from their previous price objective of $74.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 9.12% from the company’s previous close.

A number of other research analysts have also recently commented on SEIC. Oppenheimer raised their target price on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Piper Sandler decreased their price objective on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.25.

SEI Investments Price Performance

NASDAQ:SEIC traded up $0.65 during mid-day trading on Thursday, reaching $66.90. 77,906 shares of the company’s stock traded hands, compared to its average volume of 585,422. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.35 and a beta of 0.99. The company has a 50 day moving average price of $66.39 and a 200-day moving average price of $66.89.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The business had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the previous year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that SEI Investments will post 4.19 EPS for the current year.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the completion of the sale, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at $522,759,000.39. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 48,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the completion of the sale, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at $522,759,000.39. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $8,406,920 in the last quarter. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently modified their holdings of SEIC. Lecap Asset Management Ltd. increased its stake in SEI Investments by 145.2% in the 2nd quarter. Lecap Asset Management Ltd. now owns 19,064 shares of the asset manager’s stock worth $1,233,000 after buying an additional 11,289 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of SEI Investments in the second quarter worth about $193,000. West Coast Financial LLC grew its position in shares of SEI Investments by 120.8% during 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 in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in SEI Investments by 24.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 8,753 shares of the asset manager’s stock worth $566,000 after purchasing an additional 1,711 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in SEI Investments in the 2nd quarter worth approximately $744,000. 70.59% of the stock is currently 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.