Keefe, Bruyette & Woods Increases SEI Investments (NASDAQ:SEIC) Price Target to $86.00

SEI Investments (NASDAQ:SEIC) had its price objective raised by equities research analysts at Keefe, Bruyette & Woods from $76.00 to $86.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 3.93% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Oppenheimer upped their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average target price of $80.75.

SEI Investments Stock Performance

Shares of SEIC stock opened at $82.75 on Friday. The stock has a 50 day moving average price of $79.45 and a 200 day moving average price of $71.19. The firm has a market capitalization of $10.67 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 52-week low of $61.58 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is owned by company insiders.

Institutional Trading of SEI Investments

A number of hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC increased its holdings in shares of SEI Investments by 14.4% during the 3rd quarter. DGS Capital Management LLC now owns 11,518 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 1,448 shares in the last quarter. Franklin Resources Inc. raised its position in shares of SEI Investments by 17.8% in the third quarter. Franklin Resources Inc. now owns 320,482 shares of the asset manager’s stock worth $22,799,000 after acquiring an additional 48,429 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of SEI Investments during the 3rd quarter worth about $374,000. Sanctuary Advisors LLC grew its position in shares of SEI Investments by 38.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 57,841 shares of the asset manager’s stock valued at $4,002,000 after acquiring an additional 16,162 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of SEI Investments by 10.2% in the 3rd quarter. Toronto Dominion Bank now owns 40,991 shares of the asset manager’s stock valued at $2,836,000 after purchasing an additional 3,784 shares in the last quarter. 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.