SEI Investments (NASDAQ:SEIC) Price Target Cut to $81.00 by Analysts at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its price target trimmed by Morgan Stanley from $84.00 to $81.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

A number of other analysts have also issued reports on SEIC. 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. 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. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Finally, Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.20.

SEI Investments Trading Down 6.1 %

NASDAQ:SEIC opened at $69.02 on Wednesday. The stock has a fifty day simple moving average of $79.41 and a 200-day simple moving average of $78.64. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, equities research analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Insider Activity

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

Institutional Trading of SEI Investments

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CoreFirst Bank & Trust acquired a new position in SEI Investments during the 4th quarter valued at about $31,000. Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in SEI Investments in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.