SEI Investments (NASDAQ:SEIC) Price Target Increased to $77.00 by Analysts at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its price target boosted by equities research analysts at Piper Sandler from $74.00 to $77.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price objective would indicate a potential upside of 2.83% from the stock’s previous close.

A number of other research firms have also weighed in on SEIC. Oppenheimer increased their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.00.

SEI Investments Price Performance

Shares of NASDAQ SEIC traded up $4.18 during mid-day trading on Thursday, hitting $74.88. 851,557 shares of the company’s stock traded hands, compared to its average volume of 575,349. The company has a market capitalization of $9.73 billion, a P/E ratio of 19.58, a PEG ratio of 1.39 and a beta of 0.99. SEI Investments has a 1 year low of $52.19 and a 1 year high of $75.97. The company’s 50-day moving average is $68.63 and its two-hundred day moving average is $67.32.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for 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 company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. Equities analysts anticipate that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction on Monday, August 26th. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,582 shares of company stock worth $8,942,405. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP grew its position in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after buying an additional 222,631 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in SEI Investments by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after acquiring an additional 36,810 shares in the last quarter. Raymond James & Associates grew its holdings in SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 shares during the last quarter. ProShare Advisors LLC increased its position in shares of SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock worth $30,082,000 after purchasing an additional 2,698 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of SEI Investments by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock worth $24,671,000 after purchasing an additional 4,656 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

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.