SEI Investments (NASDAQ:SEIC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of SEI Investments (NASDAQ:SEIC) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $86.80.

SEIC has been the subject of several research reports. Oppenheimer increased their price objective on shares of 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 report on Monday, April 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Finally, Piper Sandler reduced their target price on shares of SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 in the last quarter. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in SEI Investments by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock valued at $212,589,000 after buying an additional 60,307 shares in the last quarter. Boston Trust Walden Corp grew its holdings in SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after buying an additional 20,020 shares in the last quarter. FMR LLC boosted its holdings in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of SEI Investments by 20.9% in the 4th quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock valued at $88,104,000 after acquiring an additional 184,339 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC opened at $72.38 on Monday. The business’s fifty day moving average is $77.31 and its 200 day moving average is $78.72. The company has a market capitalization of $9.19 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.