SEI Investments (SEIC) Lowered to “Buy” at BidaskClub

SEI Investments (NASDAQ:SEIC) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

SEIC has been the subject of several other reports. Mizuho reaffirmed a “buy” rating and set a $72.00 price target on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, October 30th. Finally, Oppenheimer increased their price target on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $70.25.

Shares of SEI Investments (NASDAQ:SEIC) opened at $77.29 on Thursday. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. SEI Investments has a fifty-two week low of $47.88 and a fifty-two week high of $77.49. The firm has a market capitalization of $12,260.00, a price-to-earnings ratio of 33.75, a P/E/G ratio of 1.96 and a beta of 1.40.

SEI Investments declared that its board has initiated a stock buyback program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

In other SEI Investments news, insider N Jeffrey Klauder sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $64.77, for a total value of $647,700.00. Following the completion of the transaction, the insider now owns 51,042 shares in the company, valued at $3,305,990.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total value of $3,232,000.00. Following the completion of the transaction, the insider now owns 10,619,272 shares of the company’s stock, valued at approximately $686,429,742.08. The disclosure for this sale can be found here. Insiders sold 136,250 shares of company stock valued at $9,057,050 in the last quarter. 16.50% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SEIC. Invictus RG purchased a new position in SEI Investments in the third quarter worth $111,000. Meeder Asset Management Inc. raised its position in SEI Investments by 7,575.0% in the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after acquiring an additional 2,424 shares in the last quarter. D.A. Davidson & CO. raised its position in SEI Investments by 9.3% in the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after acquiring an additional 253 shares in the last quarter. Legacy Advisors LLC purchased a new position in SEI Investments in the third quarter worth $180,000. Finally, Venturi Wealth Management LLC purchased a new position in SEI Investments in the third quarter worth $208,000. Hedge funds and other institutional investors own 70.18% of the company’s stock.

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SEI Investments Company Profile

SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.

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