SEI Investments (NASDAQ:SEIC) Price Target Raised to $125.00 at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its price objective raised by Morgan Stanley from $115.00 to $125.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on SEIC. Raymond James Financial lifted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.60.

SEI Investments Stock Down 2.0%

Shares of SEI Investments stock opened at $96.73 on Thursday. The business’s fifty day moving average price is $91.54 and its two-hundred day moving average price is $86.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The company has a market capitalization of $11.63 billion, a P/E ratio of 17.06 and a beta of 0.97. SEI Investments has a 1-year low of $75.08 and a 1-year high of $102.29.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.42% and a net margin of 28.85%.The company had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts forecast that SEI Investments will post 5.98 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s payout ratio is currently 17.75%.

Insider Activity

In related news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the director owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at $83,958.36. This represents a 81.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,332 shares of company stock worth $6,278,583 over the last 90 days. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Several large investors have recently made changes to their positions in the business. Allworth Financial LP increased its position in 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. Commerce Bank raised its stake in shares of SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after purchasing an additional 133 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in shares of SEI Investments by 1.2% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after buying an additional 141 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in shares of SEI Investments by 1.2% in the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock valued at $965,000 after buying an additional 149 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Key Stories Impacting SEI Investments

Here are the key news stories impacting SEI Investments this week:

• Positive Sentiment: SEI Investments beat Q2 earnings expectations, reporting $1.66 per share versus consensus around $1.44-$1.45, while revenue came in above estimates at $641.62 million. The company also said revenue rose 14.7% year over year and operating income increased 33%, with operating margin reaching 31%. Article Title
• Positive Sentiment: Management highlighted record growth in revenue and EPS in the Q2 earnings call, which should support confidence in the company’s operating momentum and ability to convert higher activity into profits. Article Title
• Positive Sentiment: Analysts turned more constructive after the report: Morgan Stanley raised its price target to $125 and reiterated an overweight rating, while Keefe, Bruyette & Woods lifted its target to $119 with an outperform rating. Article Title
• Positive Sentiment: Assets under management and assets under administration reportedly rose year over year, reinforcing that the business is still seeing healthy client inflows and scale benefits. Article Title
• Neutral Sentiment: Despite the earnings beat, EPS was below last year’s level, which may have tempered enthusiasm and limited the stock’s upside reaction. Article Title

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.