Piper Sandler Increases SEI Investments (NASDAQ:SEIC) Price Target to $77.00

SEI Investments (NASDAQ:SEIC) had its price objective upped by Piper Sandler from $74.00 to $77.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Oppenheimer upped their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $0.41 during trading on Thursday, hitting $74.00. 54,297 shares of the company were exchanged, compared to its average volume of 579,672. The company has a market cap of $9.61 billion, a PE ratio of 19.48, a P/E/G ratio of 1.39 and a beta of 0.99. SEI Investments has a 52-week low of $52.19 and a 52-week high of $75.97. The stock has a 50 day moving average of $68.78 and a 200 day moving average of $67.37.

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

SEI Investments declared that its board has approved a share buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SEI Investments

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

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in SEI Investments by 19.2% during 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. purchased a new stake in SEI Investments during the 1st quarter valued at about $14,172,000. Jupiter Asset Management Ltd. bought a new position in SEI Investments during the 2nd quarter worth approximately $7,787,000. West Coast Financial LLC increased its stake in SEI Investments by 120.8% in the 2nd quarter. West Coast Financial LLC now owns 116,128 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 63,537 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in SEI Investments by 67.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 145,536 shares of the asset manager’s stock valued at $10,376,000 after purchasing an additional 58,808 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

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.