SEI Investments (NASDAQ:SEIC) PT Raised to $77.00

SEI Investments (NASDAQ:SEIC) had its price target upped by Piper Sandler from $74.00 to $77.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s target price would suggest a potential upside of 2.53% from the company’s current price.

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

SEI Investments Trading Up 0.9 %

SEIC stock 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 stock has a market cap of $9.75 billion, a PE ratio of 19.66, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a 50-day moving average price of $68.94 and a 200 day moving average price of $67.40.

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

SEI Investments announced that its board has authorized a share buyback program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s 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 sale, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock worth $8,942,405 in the last three months. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of SEI Investments during the second quarter worth $1,434,000. Mediolanum International Funds Ltd purchased a new stake in SEI Investments in the first quarter valued at about $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SEI Investments by 20.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after acquiring an additional 10,670 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of SEI Investments by 21.7% during the first quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after acquiring an additional 20,533 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of SEI Investments during the first quarter worth about $14,172,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.