SEI Investments Company (NASDAQ:SEIC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of SEI Investments Company (NASDAQ:SEIC) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $104.40.

SEIC has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Morgan Stanley increased their price objective on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Raymond James Financial boosted their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th.

SEI Investments Stock Down 3.4%

Shares of SEI Investments stock opened at $78.79 on Tuesday. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. SEI Investments has a 12-month low of $64.66 and a 12-month high of $93.96. The company has a market cap of $9.65 billion, a P/E ratio of 14.48, a PEG ratio of 1.22 and a beta of 0.96. The company’s fifty day simple moving average is $83.69 and its two-hundred day simple moving average is $86.00.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. During the same period last year, the company posted $1.19 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has approved a stock repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the sale, the director directly owned 75,641 shares of the company’s stock, valued at $6,479,408.06. The trade was a 11.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This trade represents a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of SEI Investments by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after purchasing an additional 30,970 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in SEI Investments by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock valued at $794,475,000 after purchasing an additional 121,198 shares in the last quarter. Bank of America Corp DE raised its holdings in SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after buying an additional 133,057 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SEI Investments by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after buying an additional 31,953 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of SEI Investments by 4.1% during the third quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock valued at $146,920,000 after buying an additional 68,873 shares during the last quarter. 70.59% of the stock is 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.