SEI Investments (NASDAQ:SEIC) Given New $84.00 Price Target at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its target price upped by Keefe, Bruyette & Woods from $80.00 to $84.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the asset manager’s stock.

SEIC has been the topic of several other research reports. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research note on Thursday. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating and set a $82.00 price target (up from $77.00) on shares of SEI Investments in a research note on Thursday. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments has an average rating of “Moderate Buy” and a consensus price target of $87.60.

SEI Investments Trading Down 0.1 %

Shares of SEIC opened at $78.59 on Friday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The company has a market capitalization of $9.88 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business’s 50 day moving average is $75.24 and its 200 day moving average is $79.04.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm had revenue of $551.34 million for the quarter, compared to analysts’ expectations of $556.76 million. Equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of the firm’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 transaction, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock worth $6,293,903 over the last ninety days. Company insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Institutional investors and hedge funds have recently modified their holdings of the stock. King Luther Capital Management Corp purchased a new position in SEI Investments during the 4th quarter worth $2,645,000. Boston Trust Walden Corp grew its position in shares of SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after buying an additional 20,020 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of SEI Investments in the fourth quarter valued at about $267,000. New York Life Investment Management LLC purchased a new stake in SEI Investments in the fourth quarter worth about $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new position in SEI Investments during the 4th quarter worth about $1,818,000. Institutional investors own 70.59% of the company’s stock.

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.