Brokerages Set SEI Investments (NASDAQ:SEIC) PT at $90.00

Shares of SEI Investments (NASDAQ:SEIC) have been given an average recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $90.00.

Several analysts have recently commented on SEIC shares. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Morgan Stanley increased their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,010 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. The trade was a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 171,194 shares of company stock worth $14,579,872 over the last ninety days. 14.30% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Several hedge funds have recently made changes to their positions in SEIC. FMR LLC grew its position in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares in the last quarter. Norges Bank purchased a new position in SEI Investments during the fourth quarter worth about $48,009,000. Raymond James Financial Inc. purchased a new position in SEI Investments during the fourth quarter worth about $42,548,000. Los Angeles Capital Management LLC purchased a new position in SEI Investments during the fourth quarter worth about $26,702,000. Finally, Geode Capital Management LLC grew its position 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 buying an additional 300,704 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $80.05 on Monday. The business’s 50 day simple moving average is $82.83 and its two-hundred day simple moving average is $77.09. The firm has a market cap of $10.16 billion, a P/E ratio of 18.11, a PEG ratio of 1.41 and a beta of 0.98. SEI Investments has a 52-week low of $62.38 and a 52-week 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 return on equity of 25.51% and a net margin of 27.35%. On average, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

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

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.