SEI Investments Company (NASDAQ:SEIC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of SEI Investments Company (NASDAQ:SEIC) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $104.40.

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Raymond James Financial raised their target price on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Finally, Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the sale, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. The trade was a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 44,770 shares of company stock worth $3,723,850. 14.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of SEI Investments during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. boosted its stake in SEI Investments by 142.9% during the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after buying an additional 210 shares in the last quarter. CoreFirst Bank & Trust bought a new position in SEI Investments during the second quarter valued at about $34,000. Community Bank N.A. acquired a new position in SEI Investments during the third quarter worth about $35,000. Finally, Allworth Financial LP raised its position in SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Down 0.5%

SEI Investments stock opened at $83.00 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments has a one year low of $64.66 and a one year high of $93.96. The company has a 50-day simple moving average of $81.63 and a 200-day simple moving average of $85.65. The firm has a market capitalization of $10.16 billion, a P/E ratio of 15.26 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million during the quarter, compared to analyst estimates of $578.75 million. During the same period in the previous year, the business posted $1.19 EPS. SEI Investments’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a share buyback plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.