SEI Investments (NASDAQ:SEIC) Reaches New 52-Week High – Still a Buy?

SEI Investments (NASDAQ:SEIC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $83.15 and last traded at $82.57, with a volume of 10614 shares changing hands. The stock had previously closed at $82.63.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley upped their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price objective on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Down 0.8 %

The stock has a market cap of $10.57 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. The firm has a fifty day moving average of $75.14 and a 200 day moving average of $69.54.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate 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 return on equity of 24.29% and a net margin of 26.60%. SEI Investments’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock worth $5,173,529 over the last 90 days. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Large investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. boosted its stake in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 worth $41,000 after buying an additional 275 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in SEI Investments in the third quarter valued at about $45,000. Institutional investors and hedge funds 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.