SEI Investments (NASDAQ:SEIC) Downgraded to Hold Rating by StockNews.com

SEI Investments (NASDAQ:SEIC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other equities research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley upgraded SEI Investments from an “underweight” rating to an “overweight” rating and cut their price target for the company from $81.00 to $77.00 in a research note on Monday. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.

SEI Investments Price Performance

SEI Investments stock opened at $66.45 on Monday. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business’s fifty day moving average is $78.41 and its 200 day moving average is $78.68. The stock has a market capitalization of $8.44 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, sell-side analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreFirst Bank & Trust purchased a new stake in SEI Investments during the 4th quarter valued at approximately $31,000. Allworth Financial LP boosted its position in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Versant Capital Management Inc grew its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments in the 3rd quarter valued at $45,000. Finally, First Horizon Advisors Inc. increased its holdings in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

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.