Brokerages Set SEI Investments (NASDAQ:SEIC) Target Price at $87.60

Shares of SEI Investments (NASDAQ:SEIC) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $87.60.

Several analysts have commented on SEIC shares. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Piper Sandler increased their price target on SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Morgan Stanley restated an “overweight” rating and issued a $82.00 target price (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th.

SEI Investments Stock Performance

SEIC opened at $79.99 on Friday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The firm’s fifty day moving average is $74.99 and its 200 day moving average is $79.27.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to analysts’ expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.99 earnings per share. On average, 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 initiated a stock buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, 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 value 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 $539,963,846.24. The trade was a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock worth $6,293,903 over the last 90 days. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in SEI Investments during the 4th quarter worth about $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments during the fourth quarter valued at approximately $42,548,000. GAMMA Investing LLC increased its holdings in SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock valued at $36,526,000 after buying an additional 465,646 shares during the period. FMR LLC raised its stake in SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in SEI Investments during the fourth quarter worth $26,702,000. Hedge funds and other 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.