SEI Investments (NASDAQ:SEIC) Price Target Raised to $85.00

SEI Investments (NASDAQ:SEIC) had its price target boosted by stock analysts at Oppenheimer from $81.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price objective indicates a potential upside of 13.51% from the stock’s previous close.

Several other equities research analysts have also recently commented on SEIC. Piper Sandler lifted their price target on shares of SEI Investments from $71.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.00.

SEI Investments Trading Up 5.9 %

NASDAQ SEIC traded up $4.18 on Thursday, hitting $74.88. 851,557 shares of the company were exchanged, compared to its average volume of 575,349. SEI Investments has a 1-year low of $52.19 and a 1-year high of $75.97. The firm has a 50 day moving average of $68.63 and a two-hundred day moving average of $67.32. The company has a market cap of $9.73 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. Research analysts anticipate that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the transaction, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,582 shares of company stock valued at $8,942,405. Corporate insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of SEI Investments in the first quarter valued at approximately $14,172,000. Jupiter Asset Management Ltd. acquired a new stake in SEI Investments during the 2nd quarter valued at $7,787,000. West Coast Financial LLC raised its position in shares of SEI Investments by 120.8% in the second quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock valued at $7,512,000 after purchasing an additional 63,537 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of SEI Investments by 67.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock worth $10,376,000 after buying an additional 58,808 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.