StockNews.com Downgrades SEI Investments (NASDAQ:SEIC) to Hold

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

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

SEI Investments Stock Down 2.1 %

NASDAQ SEIC opened at $66.45 on Monday. The company has a 50-day simple moving average of $78.41 and a two-hundred day simple moving average of $78.68. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.41 and a beta of 0.90.

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

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

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. The trade was 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of SEI Investments in the fourth quarter worth $48,009,000. Raymond James Financial Inc. bought a new position in SEI Investments in the 4th quarter worth about $42,548,000. GAMMA Investing LLC grew its position 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 valued at $36,526,000 after purchasing an additional 465,646 shares during the last quarter. FMR LLC increased 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 valued at $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in SEI Investments during the 4th quarter valued at about $26,702,000. 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.