SEI Investments (NASDAQ:SEIC) PT Raised to $75.00 at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its target price increased by stock analysts at Morgan Stanley from $70.00 to $75.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential downside of 0.13% from the company’s current price.

Several other brokerages also recently issued reports on SEIC. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday. Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One investment 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 MarketBeat, SEI Investments has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Up 0.9 %

NASDAQ:SEIC opened at $75.10 on Thursday. SEI Investments has a twelve month low of $52.19 and a twelve month high of $75.97. The business has a 50 day moving average price of $68.94 and a two-hundred day moving average price of $67.40. The company has a market cap of $9.75 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm 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 business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.87 earnings per share. As a group, analysts anticipate that SEI Investments will post 4.25 earnings per share for the current fiscal year.

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

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction 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 $513,745,715.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares in the company, valued at $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. In the last ninety days, insiders have sold 132,582 shares of company stock worth $8,942,405. 14.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. IFG Advisory LLC lifted its position in SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after buying an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 shares in the last quarter. Creative Planning raised its position in shares of SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares during the last quarter. Diversified Trust Co lifted its stake in shares of SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after buying an additional 202 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of SEI Investments by 7.8% during the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after acquiring an additional 213 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.