SEI Investments (NASDAQ:SEIC) Price Target Cut to $99.00 by Analysts at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price target reduced by Piper Sandler from $106.00 to $99.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

A number of other research analysts have also recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Morgan Stanley dropped their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Finally, UBS Group began coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and an average price target of $107.00.

SEI Investments Stock Performance

SEI Investments stock opened at $75.18 on Tuesday. The stock has a 50-day simple moving average of $80.52 and a 200 day simple moving average of $82.27. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. SEI Investments has a 12-month low of $65.49 and a 12-month high of $93.96. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 13.35 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business had revenue of $607.93 million during the quarter, compared to the consensus estimate of $596.97 million. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,447 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $79.26, for a total transaction of $590,249.22. Following the completion of the sale, the chairman directly owned 6,875,783 shares of the company’s stock, valued at approximately $544,974,560.58. The trade was a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total value of $326,960.00. Following the sale, the insider directly owned 921 shares of the company’s stock, valued at $75,282.54. This represents a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 146,447 shares of company stock valued at $12,318,659. 14.60% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

Institutional investors and hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in shares of SEI Investments during the 3rd quarter valued at $28,000. SJS Investment Consulting Inc. raised its position 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 acquiring an additional 210 shares during the last quarter. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 2nd quarter valued at $34,000. Community Bank N.A. bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $35,000. Finally, Allworth Financial LP increased its stake 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 valued at $37,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

About SEI Investments

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.