Morgan Stanley Lowers SEI Investments (NASDAQ:SEIC) Price Target to $108.00

SEI Investments (NASDAQ:SEIC) had its price target decreased by analysts at Morgan Stanley from $119.00 to $108.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective suggests a potential upside of 40.24% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $106.00 price target on shares of SEI Investments in a report on Friday, February 20th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. Finally, UBS Group started coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $108.17.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $77.01 on Thursday. The firm’s fifty day simple moving average is $80.90 and its 200-day simple moving average is $82.48. SEI Investments has a 12 month low of $64.66 and a 12 month high of $93.96. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 13.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The business had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the prior year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 7,447 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total transaction of $590,249.22. Following the sale, the chairman owned 6,875,783 shares in the company, valued at approximately $544,974,560.58. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the sale, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 146,447 shares of company stock worth $12,318,659. 14.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in SEI Investments during the third quarter valued at about $28,000. SJS Investment Consulting Inc. raised its holdings in shares of SEI Investments by 142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after buying an additional 210 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the second quarter valued at approximately $34,000. Community Bank N.A. purchased a new stake in SEI Investments during the 3rd quarter worth $35,000. Finally, Allworth Financial LP increased its position in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after acquiring an additional 132 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 global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.