Morgan Stanley Raises SEI Investments (NASDAQ:SEIC) Price Target to $75.00

SEI Investments (NASDAQ:SEIC) had its price target increased by Morgan Stanley from $70.00 to $75.00 in a research report sent to investors on Thursday, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Several other research firms also recently weighed in on SEIC. Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One investment 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. According to MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Trading Up 0.9 %

Shares of SEIC opened at $75.10 on Thursday. The firm has a market cap of $9.75 billion, a PE ratio of 19.66, a P/E/G ratio of 1.39 and a beta of 0.99. SEI Investments has a 12 month low of $52.19 and a 12 month high of $75.97. The stock has a fifty day moving average price of $68.94 and a 200-day moving average price of $67.38.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same period last year, the business posted $0.87 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments will post 4.25 EPS for the current year.

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

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at $513,745,715.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,582 shares of company stock valued at $8,942,405 over the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in SEI Investments in the 2nd quarter worth about $1,434,000. Mediolanum International Funds Ltd purchased a new position in shares of SEI Investments during the 1st quarter valued at approximately $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SEI Investments by 20.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after acquiring an additional 10,670 shares in the last quarter. Russell Investments Group Ltd. raised its position in SEI Investments by 21.7% during the first quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after acquiring an additional 20,533 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in SEI Investments during the first quarter valued at $14,172,000. 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.