SEI Investments’ (SEIC) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC)‘s stock had its “market perform” rating restated by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Thursday,Benzinga reports. They presently have a $90.00 price objective on the asset manager’s stock, up from their previous price objective of $86.00. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.95% from the company’s current price.

Several other research firms also recently weighed in on SEIC. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday. Finally, Oppenheimer lifted their price objective 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments has an average rating of “Hold” and an average target price of $90.00.

SEI Investments Stock Up 0.6 %

Shares of SEIC opened at $86.58 on Thursday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock has a 50 day moving average price of $83.17 and a 200 day moving average price of $74.81.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (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 25.41%. On average, equities analysts anticipate that SEI Investments will post 4.89 EPS for the current fiscal year.

SEI Investments announced that its board has approved a stock 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 buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 5,984 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the transaction, the chairman now owns 7,371,522 shares in the company, valued at $620,903,298.06. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock valued at $15,769,472 over the last quarter. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 500 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of SEI Investments during the 3rd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds 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.