Piper Sandler Has Lowered Expectations for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC) had its price target dropped by research analysts at Piper Sandler from $106.00 to $99.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s target price would indicate a potential upside of 27.17% from the stock’s previous close.

SEIC has been the subject of a number of other research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research report on Monday, January 5th. Morgan Stanley lowered their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. UBS Group assumed coverage on SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

SEI Investments Stock Up 3.6%

SEI Investments stock opened at $77.85 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 13.83 and a beta of 0.94. SEI Investments has a 1-year low of $65.68 and a 1-year high of $93.96. The business has a fifty day moving average price of $80.35 and a 200-day moving average price of $82.24.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same period in the prior year, the firm posted $1.19 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark Andrew Warner sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the transaction, the insider owned 921 shares of the company’s stock, valued at $75,282.54. The trade was a 81.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the completion of the transaction, the chairman directly owned 6,883,230 shares of the company’s stock, valued at approximately $552,241,542.90. This trade represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 146,447 shares of company stock valued at $12,318,659 in the last quarter. 14.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of SEI Investments in the 3rd quarter valued at about $28,000. SJS Investment Consulting Inc. lifted its holdings in shares of SEI Investments by 142.9% in the 3rd 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 during the period. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments in the 2nd quarter valued at about $34,000. Community Bank N.A. acquired a new position in shares of SEI Investments in the 3rd quarter valued at about $35,000. Finally, Allworth Financial LP increased its stake in shares of SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 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 global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.