SEI Investments (NASDAQ:SEIC) Upgraded at Morgan Stanley

SEI Investments (NASDAQ:SEIC) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $77.00 price objective on the asset manager’s stock, down from their previous price objective of $81.00. Morgan Stanley’s price objective indicates a potential upside of 15.88% from the stock’s current price.

Several other analysts have also recently commented on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 target price (up previously 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 target price for the company in a research note on Thursday, January 30th. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler boosted their price objective 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

SEI Investments Stock Down 2.1 %

Shares of SEIC stock opened at $66.45 on Monday. The company has a market capitalization of $8.44 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm has a 50-day moving average price of $78.41 and a 200 day moving average price of $78.68.

SEI Investments (NASDAQ:SEIC) last posted its 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, research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the 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 transaction, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. The trade was a 1.01 % 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SEIC. Norges Bank acquired a new stake in SEI Investments in the fourth quarter worth $48,009,000. Raymond James Financial Inc. bought a new stake in shares of SEI Investments in the 4th quarter valued at $42,548,000. GAMMA Investing LLC raised its stake in SEI Investments by 9,563.5% during the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock worth $36,526,000 after buying an additional 465,646 shares during the period. FMR LLC raised its stake in SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in SEI Investments during the fourth quarter worth about $26,702,000. 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.