SEI Investments (NASDAQ:SEIC) Short Interest Update

SEI Investments (NASDAQ:SEIC) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,260,000 shares, an increase of 29.9% from the March 15th total of 2,510,000 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 721,000 shares, the short-interest ratio is currently 4.5 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEIC. Morgan Stanley raised shares of SEI Investments from an “underweight” rating to an “overweight” rating and reduced their target price for the company from $81.00 to $77.00 in a research report on Monday, April 7th. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Piper Sandler cut their price target on SEI Investments from $87.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

SEI Investments Trading Up 0.3 %

Shares of SEI Investments stock opened at $71.66 on Monday. The company has a market cap of $9.10 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The company has a 50 day moving average of $76.04 and a 200-day moving average of $78.89. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Research analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,214 shares of company stock worth $6,293,903. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust bought a new stake in SEI Investments during the 4th quarter worth $31,000. Allworth Financial LP grew its holdings in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after buying an additional 331 shares during the period. First Horizon Advisors Inc. raised its holdings in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after buying an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in SEI Investments during the 4th quarter worth approximately $55,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

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.