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

SEI Investments (NASDAQ:SEIC) had its price objective hoisted by research analysts at Piper Sandler from $69.00 to $72.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price objective points to a potential upside of 10.09% from the stock’s current price.

Several other equities analysts have also issued reports on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $74.00 price target (up previously from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Oppenheimer boosted their price target on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.75.

SEI Investments Stock Up 1.8 %

Shares of SEIC stock traded up $1.14 during mid-day trading on Wednesday, reaching $65.40. 51,406 shares of the company’s stock traded hands, compared to its average volume of 572,938. The company’s 50-day moving average price is $66.53 and its 200-day moving average price is $66.63. The company has a market cap of $8.59 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.30 and a beta of 0.99. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. Equities analysts predict that SEI Investments will post 4.15 earnings per share for the current year.

Insider Activity

In other news, Director William Doran sold 5,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the transaction, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other SEI Investments news, Director William Doran sold 5,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the sale, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.62, for a total value of $4,803,400.00. Following the completion of the sale, the chairman now owns 7,795,471 shares in the company, valued at $534,925,220.02. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $8,406,920 in the last three months. Company insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently bought and sold shares of SEIC. Boston Trust Walden Corp lifted its position in SEI Investments by 1.9% in the fourth quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager’s stock worth $83,566,000 after buying an additional 24,621 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of SEI Investments by 1.6% during the 4th quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager’s stock worth $43,998,000 after purchasing an additional 10,700 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in SEI Investments by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager’s stock valued at $41,652,000 after purchasing an additional 12,453 shares during the last quarter. Hsbc Holdings PLC lifted its stake in SEI Investments by 0.8% in the fourth quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock worth $35,049,000 after purchasing an additional 4,212 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of SEI Investments during the fourth quarter valued at $32,161,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.