Oppenheimer Forecasts Strong Price Appreciation for SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) had its price target upped by stock analysts at Oppenheimer from $85.00 to $94.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price target points to a potential upside of 15.37% from the company’s current price.

Several other research analysts have also weighed in on the company. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley raised their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments has an average rating of “Hold” and an average price target of $86.75.

SEI Investments Trading Up 0.4 %

SEIC opened at $81.48 on Tuesday. The firm has a market capitalization of $10.50 billion, a PE ratio of 19.68, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a twelve month low of $62.34 and a twelve month high of $87.25. The firm’s 50-day moving average price is $81.89 and its 200 day moving average price is $72.79.

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. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same period in the previous year, the firm earned $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction that occurred on 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 transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the sale, the chairman now directly owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

A number of institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake 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 period. Geode Capital Management LLC raised its holdings in SEI Investments by 13.5% during 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. Dimensional Fund Advisors LP raised its stake in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments in the second quarter valued at about $7,787,000. Finally, Verition Fund Management LLC grew its holdings in SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after buying an additional 107,222 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.