SEI Investments (NASDAQ:SEIC) Price Target Raised to $80.00

SEI Investments (NASDAQ:SEIC) had its price objective hoisted by Morgan Stanley from $75.00 to $80.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

SEIC has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Oppenheimer increased their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.50.

SEI Investments Stock Down 0.0 %

SEIC stock opened at $81.90 on Friday. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25. The company has a market capitalization of $10.56 billion, a P/E ratio of 19.78, a PEG ratio of 1.62 and a beta of 0.98. The company has a 50-day simple moving average of $81.56 and a 200 day simple moving average of $72.51.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping 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 24.29% and a net margin of 26.60%. The business’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 earned $0.87 EPS. Equities analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, December 27th. This represents a yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is presently 23.67%.

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

Insiders Place Their Bets

In other news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the sale, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,258 shares of company stock valued at $19,753,402 over the last 90 days. 14.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently modified their holdings of SEIC. Fairfield Financial Advisors LTD bought a new stake in shares of SEI Investments in the second quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its position in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the period. Point72 DIFC Ltd bought a new position in SEI Investments in the third quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the period. 70.59% of the stock is 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.