SEI Investments (NASDAQ:SEIC) Rating Increased to Outperform at Raymond James

SEI Investments (NASDAQ:SEIC) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Thursday,Finviz reports. The firm presently has a $99.00 price target on the asset manager’s stock. Raymond James’ price target points to a potential upside of 19.33% from the company’s current price.

Several other equities analysts have also issued reports on SEIC. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Oppenheimer boosted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.20.

SEI Investments Trading Down 1.7 %

SEI Investments stock opened at $82.96 on Thursday. The firm has a market capitalization of $10.69 billion, a P/E ratio of 20.04, a PEG ratio of 1.44 and a beta of 0.98. The business has a 50-day moving average of $82.94 and a 200-day moving average of $74.60. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly 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 26.60% and a return on equity of 24.29%. Research analysts anticipate that SEI Investments will post 4.41 EPS for the current fiscal year.

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

Insider Buying and Selling at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the sale, the chairman now owns 7,377,506 shares of the company’s stock, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,194 shares of company stock valued at $15,769,472 in the last quarter. 14.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. raised its stake 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 purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings 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 worth $38,000 after acquiring an additional 500 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of SEI Investments during the 3rd quarter worth approximately $45,000. Northwestern Mutual Wealth Management Co. increased its stake in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 shares during the last quarter. Finally, Great Diamond Partners LLC acquired a new position in shares of SEI Investments during the 4th quarter worth $203,000. 70.59% of the stock is 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.