SEI Investments (NASDAQ:SEIC) Price Target Cut to $62.00

SEI Investments (NASDAQ:SEICGet Rating) had its target price decreased by equities research analysts at Morgan Stanley from $68.00 to $62.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price target points to a potential upside of 4.64% from the stock’s previous close.

Other research analysts have also issued research reports about the company. StockNews.com began coverage on SEI Investments in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Oppenheimer decreased their price target on SEI Investments from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, January 27th. Finally, The Goldman Sachs Group downgraded SEI Investments from a “buy” rating to a “neutral” rating and decreased their price target for the company from $67.00 to $65.00 in a research note on Monday, March 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.00.

NASDAQ:SEIC opened at $59.25 on Thursday. The firm has a market cap of $8.20 billion, a P/E ratio of 15.51, a PEG ratio of 1.13 and a beta of 1.06. The company has a current ratio of 3.95, a quick ratio of 3.87 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $58.76 and its 200-day simple moving average is $60.52. SEI Investments has a 12-month low of $54.03 and a 12-month high of $65.22.

SEI Investments (NASDAQ:SEICGet Rating) last released its earnings results on Wednesday, April 20th. The asset manager reported $1.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.36. The business had revenue of $581.44 million for the quarter, compared to analyst estimates of $560.41 million. SEI Investments had a return on equity of 29.81% and a net margin of 28.49%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Research analysts forecast that SEI Investments will post 4.23 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank boosted its position in SEI Investments by 0.4% during the fourth quarter. Comerica Bank now owns 49,884 shares of the asset manager’s stock worth $2,886,000 after purchasing an additional 176 shares in the last quarter. DNB Asset Management AS boosted its position in SEI Investments by 1.2% during the fourth quarter. DNB Asset Management AS now owns 15,539 shares of the asset manager’s stock worth $947,000 after purchasing an additional 184 shares in the last quarter. Congress Asset Management Co. MA boosted its position in SEI Investments by 4.6% during the first quarter. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager’s stock worth $268,000 after purchasing an additional 194 shares in the last quarter. Signaturefd LLC boosted its position in SEI Investments by 34.4% during the fourth quarter. Signaturefd LLC now owns 851 shares of the asset manager’s stock worth $52,000 after purchasing an additional 218 shares in the last quarter. Finally, PFG Private Wealth Management LLC boosted its position in SEI Investments by 18.0% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,480 shares of the asset manager’s stock worth $90,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 69.63% of the company’s stock.

About SEI Investments (Get Rating)

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.

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