SEI Investments (NASDAQ:SEIC) Upgraded at Raymond James

Raymond James upgraded shares of SEI Investments (NASDAQ:SEIC) from a market perform rating to an outperform rating in a report published on Thursday, Marketbeat.com reports. The firm currently has $99.00 price target on the asset manager’s stock.

Other equities analysts have also recently issued reports about the company. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their price objective 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 upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.00.

SEI Investments Trading Up 0.6 %

Shares of SEI Investments stock opened at $86.58 on Thursday. The firm has a fifty day simple moving average of $83.17 and a 200-day simple moving average of $74.85. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.41 and a beta of 0.98. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.41% and a net margin of 27.35%. As a group, research analysts predict that SEI Investments will post 4.89 earnings per share for the current year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a $0.49 dividend. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is currently 22.17%.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $514,410. The trade was a 60.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the sale, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,194 shares of company stock valued at $15,769,472. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Geode Capital Management LLC grew its stake in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Boston Trust Walden Corp increased its position in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the period. FMR LLC raised its holdings in SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock worth $37,791,000 after purchasing an additional 10,576 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after purchasing an additional 19,846 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

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.