SEI Investments (NASDAQ:SEIC) PT Raised to $85.00 at Oppenheimer

SEI Investments (NASDAQ:SEIC) had its price objective lifted by Oppenheimer from $81.00 to $85.00 in a research report sent to investors on Thursday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler lifted their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $75.10 on Thursday. The firm has a market cap of $9.87 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The firm’s 50 day simple moving average is $68.94 and its 200-day simple moving average is $67.36. SEI Investments has a one year low of $52.19 and a one year high of $75.97.

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

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

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments 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 transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was 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 the SEC website. In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments 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 owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC lifted its position in SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Bessemer Group Inc. lifted its position in SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. lifted its position in SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 500 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.