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

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

Several other equities analysts have also commented on SEIC. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Morgan Stanley raised SEI Investments from an “underweight” rating to an “overweight” rating and reduced their price objective for the company from $81.00 to $77.00 in a research note on Monday, April 7th. Oppenheimer raised 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. Piper Sandler lowered their price objective 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, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.80.

SEI Investments Price Performance

Shares of SEIC opened at $73.26 on Wednesday. The firm has a 50-day moving average of $76.79 and a 200-day moving average of $78.78. The company has a market cap of $9.30 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. Analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 over the last ninety days. 14.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SEIC. Norges Bank bought a new stake in SEI Investments during the 4th quarter worth approximately $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments in the 4th quarter worth $42,548,000. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 465,646 shares during the last quarter. FMR LLC grew its position in SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after acquiring an additional 348,112 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in SEI Investments in the fourth quarter worth $26,702,000. 70.59% of the stock is owned by institutional investors.

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.