SEI Investments (NASDAQ:SEIC) Receives $89.40 Consensus Target Price from Brokerages

SEI Investments (NASDAQ:SEIC) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, 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 objective among brokers that have covered the stock in the last year is $86.80.

Several analysts have recently weighed in on SEIC shares. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler reduced their price target on shares of SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Oppenheimer boosted 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. Finally, Morgan Stanley upgraded SEI Investments from an “underweight” rating to an “overweight” rating and dropped their price target for the stock from $81.00 to $77.00 in a research note on Monday.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 79,214 shares of company stock worth $6,293,903. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SEIC. NBC Securities Inc. boosted its holdings in SEI Investments by 112,275.0% in the 1st quarter. NBC Securities Inc. now owns 8,990 shares of the asset manager’s stock valued at $697,000 after purchasing an additional 8,982 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in shares of SEI Investments by 8.3% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 6,391 shares of the asset manager’s stock valued at $496,000 after buying an additional 488 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of SEI Investments by 24.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,542 shares of the asset manager’s stock valued at $353,000 after buying an additional 886 shares in the last quarter. GAMMA Investing LLC grew its holdings in SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock worth $36,526,000 after acquiring an additional 465,646 shares during the period. Finally, Versant Capital Management Inc raised its position in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock worth $42,000 after acquiring an additional 331 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

SEI Investments stock opened at $73.03 on Monday. The stock has a market cap of $9.27 billion, a PE ratio of 16.52, a P/E/G ratio of 1.41 and a beta of 0.90. The stock’s fifty day moving average is $77.88 and its two-hundred day moving average is $78.67. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

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 return on equity of 25.51% and a net margin of 27.35%. On average, research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

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.