SEI Investments (NASDAQ:SEIC) Rating Increased to Overweight at Morgan Stanley

SEI Investments (NASDAQ:SEIC) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $77.00 price objective on the asset manager’s stock, down from their prior price objective of $81.00. Morgan Stanley’s target price would indicate a potential upside of 11.56% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Raymond James raised shares of 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. Piper Sandler boosted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. 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 note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $69.02 on Monday. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The company’s 50 day simple moving average is $79.41 and its 200 day simple moving average is $78.79.

SEI Investments (NASDAQ:SEIC) last issued 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 27.35% and a return on equity of 25.51%. As a group, analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 over the last 90 days. 14.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CoreFirst Bank & Trust bought a new position in SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP grew its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc raised its position in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock worth $42,000 after acquiring an additional 331 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments in the 3rd quarter valued at about $45,000. Finally, First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. 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.