SEI Investments (NASDAQ:SEIC) Cut to Hold at Zacks Investment Research

SEI Investments (NASDAQ:SEICGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports. They currently have a $60.00 target price on the asset manager’s stock. Zacks Investment Research‘s price objective points to a potential upside of 5.28% from the stock’s current price.

According to Zacks, “Shares of SEI Investments have outperformed the industry over the past year. Its earnings outpaced the Zacks Consensus Estimate in three and met in one of the trailing four quarters. Its first-quarter 2022 results reflect higher revenues. Global presence, a diverse range of product offerings, strategic acquisitions and robust assets under management (AUM) balance are expected to continue driving growth. Additionally, technological innovations and rising demand for the SEI Wealth Platform (SWP) across financial institutions will also likely support financials. Nevertheless, steadily rising expenses might hurt the bottom-line growth. The company expects inflationary pressure on personnel costs to continue in the quarters ahead. Further, as the company’s business is mainly technology-driven, expenses related to the same will continue rising.”

SEIC has been the topic of several other research reports. The Goldman Sachs Group lowered shares of SEI Investments from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $65.00 in a report on Monday, March 28th. Oppenheimer cut their price objective on shares of SEI Investments from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, January 27th. StockNews.com initiated coverage on shares of SEI Investments in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut their price objective on shares of SEI Investments from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average target price of $64.80.

Shares of SEIC traded down $0.05 during mid-day trading on Friday, reaching $56.99. The company had a trading volume of 1,112 shares, compared to its average volume of 645,560. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. The firm has a fifty day simple moving average of $58.76 and a 200-day simple moving average of $60.52. SEI Investments has a fifty-two week low of $54.03 and a fifty-two week high of $65.22. The company has a current ratio of 3.95, a quick ratio of 3.87 and a debt-to-equity ratio of 0.02.

SEI Investments (NASDAQ:SEICGet Rating) last posted its earnings results on Wednesday, April 20th. The asset manager reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.01). The business had revenue of $581.44 million for the quarter, compared to analyst estimates of $560.41 million. SEI Investments had a net margin of 28.49% and a return on equity of 29.81%. The business’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. As a group, equities analysts predict that SEI Investments will post 4.23 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Comerica Bank grew its position in shares of SEI Investments by 0.4% during the 4th quarter. Comerica Bank now owns 49,884 shares of the asset manager’s stock valued at $2,886,000 after buying an additional 176 shares during the last quarter. DNB Asset Management AS grew its position in shares of SEI Investments by 1.2% during the 4th quarter. DNB Asset Management AS now owns 15,539 shares of the asset manager’s stock valued at $947,000 after buying an additional 184 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of SEI Investments by 4.6% during the 1st quarter. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager’s stock valued at $268,000 after buying an additional 194 shares during the last quarter. Signaturefd LLC grew its position in shares of SEI Investments by 34.4% during the 4th quarter. Signaturefd LLC now owns 851 shares of the asset manager’s stock valued at $52,000 after buying an additional 218 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its position in shares of SEI Investments by 18.0% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,480 shares of the asset manager’s stock valued at $90,000 after buying an additional 226 shares during the last quarter. 69.63% of the stock is owned by institutional investors and hedge funds.

SEI Investments Company Profile (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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