Oppenheimer Increases SEI Investments (NASDAQ:SEIC) Price Target to $70.00

SEI Investments (NASDAQ:SEIC) had its target price boosted by research analysts at Oppenheimer from $66.00 to $70.00 in a research report issued to clients and investors on Thursday, The Fly reports. Oppenheimer’s price objective would suggest a potential upside of 11.52% from the stock’s current price. Oppenheimer also issued estimates for SEI Investments’ FY2021 earnings at $4.00 EPS.

A number of other brokerages have also recently issued reports on SEIC. BidaskClub raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. ValuEngine cut shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Shares of SEI Investments stock opened at $62.77 on Thursday. SEI Investments has a 12-month low of $42.27 and a 12-month high of $63.22. The company has a current ratio of 5.74, a quick ratio of 5.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.43 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.62 and a beta of 1.30. The company has a 50-day moving average of $59.75 and a two-hundred day moving average of $56.76.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. SEI Investments had a net margin of 29.95% and a return on equity of 29.77%. The company had revenue of $416.30 million during the quarter, compared to analysts’ expectations of $415.52 million. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that SEI Investments will post 3.24 EPS for the current fiscal year.

In other news, EVP Dennis Mcgonigle sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $62.62, for a total transaction of $1,878,600.00. Following the completion of the transaction, the executive vice president now directly owns 607,034 shares of the company’s stock, valued at approximately $38,012,469.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 9,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.49, for a total transaction of $584,155.00. Following the transaction, the director now directly owns 80,700 shares of the company’s stock, valued at $4,962,243. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,500 shares of company stock valued at $2,767,755. Corporate insiders own 22.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SEIC. Citadel Advisors LLC increased its stake in shares of SEI Investments by 249.1% during the 2nd quarter. Citadel Advisors LLC now owns 1,928,938 shares of the asset manager’s stock worth $108,214,000 after purchasing an additional 1,376,469 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of SEI Investments by 3,795.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 514,786 shares of the asset manager’s stock worth $28,879,000 after purchasing an additional 501,572 shares in the last quarter. Bank of America Corp DE increased its stake in shares of SEI Investments by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 4,364,268 shares of the asset manager’s stock worth $244,834,000 after purchasing an additional 172,443 shares in the last quarter. BlackRock Inc. increased its stake in shares of SEI Investments by 1.2% during the 2nd quarter. BlackRock Inc. now owns 13,950,907 shares of the asset manager’s stock worth $782,645,000 after purchasing an additional 165,595 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of SEI Investments by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,120,226 shares of the asset manager’s stock worth $62,845,000 after purchasing an additional 149,900 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

SEI Investments Company Profile

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.

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