SEI Investments (NASDAQ:SEIC) Price Target Increased to $85.00 by Analysts at Oppenheimer

SEI Investments (NASDAQ:SEIC) had its price objective lifted by Oppenheimer from $81.00 to $85.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other research analysts also recently weighed in on SEIC. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler increased their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Performance

Shares of SEIC stock traded down $0.41 during trading hours on Thursday, reaching $74.00. The company had a trading volume of 54,297 shares, compared to its average volume of 579,672. The business has a fifty day moving average price of $68.78 and a 200-day moving average price of $67.37. SEI Investments has a one year low of $52.19 and a one year high of $75.97. The firm has a market cap of $9.61 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 25.44% and a return on equity of 23.25%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Equities research analysts forecast that SEI Investments will post 4.25 EPS for the current year.

SEI Investments declared that its board has approved a stock repurchase program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding 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 typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction that occurred 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 directly owns 7,605,414 shares in the company, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. 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 a total of 132,582 shares of company stock valued at $8,942,405 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Large investors have recently made changes to their positions in the business. State of Michigan Retirement System raised its stake in SEI Investments by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock valued at $1,914,000 after purchasing an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SEI Investments by 1.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,028 shares of the asset manager’s stock worth $6,185,000 after buying an additional 1,391 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of SEI Investments in the first quarter worth $717,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of SEI Investments by 64.0% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,199 shares of the asset manager’s stock worth $446,000 after acquiring an additional 2,418 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its stake in SEI Investments by 0.9% during the first quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock valued at $1,924,000 after acquiring an additional 244 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other 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.