SEI Investments (NASDAQ:SEIC) Price Target Raised to $81.00

SEI Investments (NASDAQ:SEIC) had its target price raised by Oppenheimer from $80.00 to $81.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

A number of other brokerages have also recently issued reports on SEIC. Piper Sandler dropped their price objective on shares of SEI Investments from $72.00 to $71.00 and set a neutral rating for the company in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $72.25.

SEI Investments Stock Performance

NASDAQ SEIC opened at $70.68 on Tuesday. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The stock has a market cap of $9.18 billion, a PE ratio of 19.31, a PEG ratio of 1.37 and a beta of 0.99. The firm has a 50-day simple moving average of $67.34 and a 200 day simple moving average of $67.29.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $518.99 million during the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. Research analysts forecast that SEI Investments will post 4.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction dated 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 owns 7,649,577 shares in the company, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the 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 sale, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,582 shares of company stock worth $8,942,405. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of 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 worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in SEI Investments in the 1st quarter valued at $14,172,000. Jupiter Asset Management Ltd. acquired a new stake in shares of SEI Investments in the 2nd quarter valued at $7,787,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of SEI Investments during the fourth quarter worth $6,990,000. Finally, Power Corp of Canada acquired a new position in shares of SEI Investments during the fourth quarter valued at $5,649,000. 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.