SEI Investments (NASDAQ:SEIC) Price Target Raised to $72.00 at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price objective increased by Piper Sandler from $66.00 to $72.00 in a research note released on Wednesday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other equities analysts also recently issued reports on the stock. Oppenheimer lifted their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the stock an outperform rating in a report on Tuesday. StockNews.com raised shares of SEI Investments from a hold rating to a buy rating in a report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of Hold and a consensus target price of $70.25.

SEI Investments Trading Down 2.6 %

Shares of SEIC stock opened at $69.09 on Wednesday. The firm has a market capitalization of $9.07 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. The firm has a fifty day simple moving average of $68.43 and a two-hundred day simple moving average of $62.80. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The firm had revenue of $484.86 million for the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. During the same period in the previous year, the firm earned $0.83 EPS. On average, equities analysts predict that SEI Investments will post 4.04 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Friday, December 15th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the transaction, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the transaction, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the transaction, the chairman now directly owns 7,884,834 shares in the company, valued at $557,852,005.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,333 shares of company stock valued at $14,481,612. 15.50% of the stock is owned by insiders.

Institutional Investors Weigh In On SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new stake in SEI Investments in the 3rd quarter valued at about $27,000. VisionPoint Advisory Group LLC raised its stake in SEI Investments by 67.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the period. TFO Wealth Partners LLC raised its stake in SEI Investments by 6,277.8% in the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 565 shares during the period. International Assets Investment Management LLC bought a new stake in SEI Investments in the 3rd quarter valued at about $37,000. Finally, Vestor Capital LLC bought a new stake in SEI Investments in the 2nd quarter valued at about $45,000. 70.59% of the stock is currently owned by institutional investors.

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.