SEI Investments (NASDAQ:SEIC) Given New $77.00 Price Target at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price target boosted by Piper Sandler from $74.00 to $77.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Trading Down 0.6 %

SEIC stock traded down $0.41 during trading on Thursday, reaching $74.00. 54,297 shares of the stock were exchanged, compared to its average volume of 579,672. The firm’s 50 day moving average is $68.78 and its 200 day moving average is $67.37. The firm has a market cap of $9.61 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. SEI Investments has a twelve month low of $52.19 and a twelve month high of $75.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the firm earned $0.87 earnings per share. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that SEI Investments will post 4.25 earnings per share for the current fiscal year.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 over the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. SG Americas Securities LLC bought a new stake in shares of SEI Investments in the 2nd quarter worth approximately $1,434,000. Mediolanum International Funds Ltd purchased a new position in shares of SEI Investments during the 1st quarter valued at $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of SEI Investments by 20.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after acquiring an additional 10,670 shares during the period. Russell Investments Group Ltd. increased its holdings in SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after acquiring an additional 20,533 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in SEI Investments in the 1st quarter valued at about $14,172,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.