SEI Investments (NASDAQ:SEIC) Upgraded at StockNews.com

SEI Investments (NASDAQ:SEIC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other research firms have also commented on SEIC. Morgan Stanley reissued an “overweight” rating and issued a $82.00 price target (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. Piper Sandler upped their target price on SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Finally, Oppenheimer restated an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $87.60.

SEI Investments Stock Up 0.2 %

SEIC stock opened at $81.49 on Friday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The business’s fifty day simple moving average is $75.17 and its two-hundred day simple moving average is $79.46.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. Research analysts expect that SEI Investments will post 4.86 EPS for the current year.

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

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’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 value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,214 shares of company stock worth $6,293,903. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently modified their holdings of the business. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments during the 4th quarter worth approximately $31,000. Allworth Financial LP grew its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 158 shares during the period. Versant Capital Management Inc grew its holdings in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 331 shares during the period. First Horizon Advisors Inc. raised its stake in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth $55,000. 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.