Piper Sandler Lowers SEI Investments (NASDAQ:SEIC) Price Target to $69.00

SEI Investments (NASDAQ:SEIC) had its target price cut by equities researchers at Piper Sandler from $72.00 to $69.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target would indicate a potential upside of 3.65% from the company’s current price.

Several other equities research analysts have also weighed in on the company. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Oppenheimer increased their target price on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.00.

SEI Investments Trading Up 0.1 %

Shares of NASDAQ SEIC opened at $66.57 on Thursday. The company has a market capitalization of $8.76 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a 50 day simple moving average of $68.58 and a 200-day simple moving average of $63.41. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The firm had revenue of $511.58 million for the quarter, compared to analyst estimates of $510.41 million. During the same period last year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts predict that SEI Investments will post 4.14 earnings per share for the current year.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,333 shares of company stock valued at $14,481,612. 15.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SEIC. VisionPoint Advisory Group LLC boosted its stake in SEI Investments by 67.1% during the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after buying an additional 565 shares in the last quarter. Evolution Advisers Inc. bought a new position in SEI Investments during the fourth quarter valued at about $55,000. Neo Ivy Capital Management bought a new position in SEI Investments during the fourth quarter valued at about $61,000. Finally, Principal Securities Inc. bought a new position in SEI Investments during the fourth quarter valued at about $66,000. 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.