SEI Investments (SEIC) Given Consensus Rating of “Buy” by Brokerages

SEI Investments (NASDAQ:SEIC) has received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $73.50.

SEIC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, October 30th. Mizuho restated a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research report on Friday, October 20th. BidaskClub downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer reaffirmed a “buy” rating and set a $80.00 price target on shares of SEI Investments in a research note on Thursday, February 1st.

Shares of SEI Investments (NASDAQ:SEIC) traded up $1.06 during midday trading on Friday, reaching $69.88. 894,559 shares of the company were exchanged, compared to its average volume of 653,539. SEI Investments has a 1 year low of $48.78 and a 1 year high of $77.49. The firm has a market capitalization of $10,910.00, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 4.14.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.15. SEI Investments had a net margin of 26.49% and a return on equity of 26.74%. The firm had revenue of $408.22 million for the quarter, compared to analyst estimates of $397.96 million. During the same quarter last year, the business earned $0.55 earnings per share. SEI Investments’s revenue was up 10.7% compared to the same quarter last year. analysts anticipate that SEI Investments will post 3.24 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a share buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Wayne Withrow sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total value of $703,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total transaction of $326,650.00. The disclosure for this sale can be found here. In the last three months, insiders sold 58,750 shares of company stock worth $4,049,300. Insiders own 16.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its stake in SEI Investments by 0.4% during the 2nd quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock worth $320,254,000 after buying an additional 21,421 shares during the period. American Century Companies Inc. increased its stake in SEI Investments by 0.9% during the 3rd quarter. American Century Companies Inc. now owns 1,786,915 shares of the asset manager’s stock worth $109,109,000 after buying an additional 16,248 shares during the period. Frontier Capital Management Co. LLC increased its stake in SEI Investments by 51.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock worth $59,130,000 after buying an additional 328,037 shares during the period. American Capital Management Inc. grew its holdings in SEI Investments by 0.8% during the 4th quarter. American Capital Management Inc. now owns 856,885 shares of the asset manager’s stock worth $61,576,000 after acquiring an additional 7,105 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in SEI Investments by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 667,524 shares of the asset manager’s stock worth $40,759,000 after acquiring an additional 35,067 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

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About SEI Investments

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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