SEI Investments (NASDAQ:SEIC) Given New $96.00 Price Target at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its target price boosted by equities research analysts at Piper Sandler from $79.00 to $96.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s target price points to a potential upside of 3.12% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Oppenheimer lifted their target price on SEI Investments from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.00.

SEI Investments Price Performance

SEIC stock opened at $93.10 on Wednesday. The company has a market cap of $11.59 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92. SEI Investments has a 1 year low of $62.38 and a 1 year high of $93.75. The stock’s fifty day moving average price is $84.17 and its 200-day moving average price is $80.83.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. SEI Investments’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. As a group, analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

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

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of SEI Investments stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the transaction, the chairman owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the transaction, the executive vice president owned 13,500 shares of the company’s stock, valued at $1,137,645. This trade represents a 78.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,126 shares of company stock valued at $19,638,659. 14.60% of the stock is owned by company insiders.

Institutional Trading of SEI Investments

A number of large investors have recently modified their holdings of the company. Cadence Bank boosted its holdings in shares of SEI Investments by 1.2% in the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after purchasing an additional 121 shares during the period. Ashton Thomas Securities LLC boosted its holdings in shares of SEI Investments by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after purchasing an additional 145 shares during the period. Parallel Advisors LLC boosted its holdings in shares of SEI Investments by 0.9% in the fourth quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager’s stock valued at $1,424,000 after purchasing an additional 158 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in SEI Investments by 3.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager’s stock worth $379,000 after buying an additional 160 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in SEI Investments by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock worth $435,000 after buying an additional 160 shares during the period. Hedge funds and other 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.