SEI Investments (NASDAQ:SEIC) Hits New 12-Month High – Here’s Why

SEI Investments (NASDAQ:SEIC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $81.74 and last traded at $81.67, with a volume of 90910 shares trading hands. The stock had previously closed at $80.65.

Analyst Ratings Changes

SEIC has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Performance

The firm’s 50 day simple moving average is $72.36 and its 200-day simple moving average is $68.57. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.54 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, sell-side analysts expect that SEI Investments will post 4.38 EPS for the current fiscal year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at approximately $516,193,455.96. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its position in SEI Investments by 101.3% in 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 during the period. Fairfield Financial Advisors LTD purchased a new stake in SEI Investments in the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Bessemer Group Inc. boosted its stake in SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after buying an additional 386 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.