SEI Investments Company (NASDAQ:SEIC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of SEI Investments Company (NASDAQ:SEIC) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $104.40.

Several research analysts have recently weighed in on SEIC shares. Morgan Stanley upped their target price on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial upped their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This trade represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,770 shares of company stock valued at $3,723,850 in the last ninety days. Corporate insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors have recently modified their holdings of SEIC. Root Financial Partners LLC bought a new position in SEI Investments in the third quarter worth about $28,000. SJS Investment Consulting Inc. grew its holdings in shares of SEI Investments by 142.9% during the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 210 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments during the 2nd quarter worth approximately $34,000. Community Bank N.A. bought a new stake in shares of SEI Investments in the 3rd quarter worth approximately $35,000. Finally, Allworth Financial LP lifted its holdings in shares of SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

SEIC stock opened at $83.00 on Friday. The firm has a market cap of $10.16 billion, a P/E ratio of 15.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments has a 1 year low of $64.66 and a 1 year high of $93.96. The stock has a 50-day simple moving average of $81.63 and a 200-day simple moving average of $85.65.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.SEI Investments’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. On average, equities analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

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.