SEI Investments (NASDAQ:SEIC) Price Target Raised to $77.00

SEI Investments (NASDAQ:SEIC) had its target price hoisted by Oppenheimer from $73.00 to $77.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

SEIC has been the subject of several other research reports. StockNews.com upgraded shares of SEI Investments from a hold rating to a buy rating in a research note on Saturday, March 2nd. Piper Sandler raised their price objective on shares of SEI Investments from $58.00 to $66.00 and gave the company a neutral rating in a research report on Wednesday, December 20th. Finally, Morgan Stanley raised their price objective on shares of SEI Investments from $60.00 to $61.00 and gave the company an underweight rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of Hold and an average price target of $68.00.

SEI Investments Trading Up 0.2 %

NASDAQ:SEIC traded up $0.11 during trading hours on Friday, hitting $68.74. The company’s stock had a trading volume of 412,079 shares, compared to its average volume of 586,809. The stock has a market capitalization of $9.03 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. The stock has a fifty day moving average of $65.95 and a 200-day moving average of $61.62. SEI Investments has a 52-week low of $52.19 and a 52-week high of $69.94.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The company had revenue of $484.86 million for the quarter, compared to analyst estimates of $481.39 million. During the same quarter last year, the company posted $0.83 earnings per share. On average, sell-side analysts forecast that SEI Investments will post 3.99 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Friday, December 15th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the asset manager to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 16,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the transaction, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other SEI Investments news, insider Sanjay Sharma sold 15,000 shares of SEI Investments stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the sale, the insider now directly owns 16,895 shares of the company’s stock, valued at approximately $1,135,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wayne Withrow sold 16,970 shares of SEI Investments stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the transaction, the executive vice president now owns 55,399 shares in the company, valued at approximately $3,665,197.84. The disclosure for this sale can be found here. Insiders sold a total of 34,970 shares of company stock valued at $2,332,665 in the last ninety days. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in shares of SEI Investments by 19.8% during the 1st quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock valued at $1,337,000 after acquiring an additional 3,666 shares in the last quarter. Private Advisor Group LLC lifted its holdings in SEI Investments by 15.3% in the 1st quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock worth $290,000 after buying an additional 639 shares in the last quarter. Bank of Montreal Can lifted its holdings in SEI Investments by 18.5% in the 1st quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock worth $6,230,000 after buying an additional 15,773 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in SEI Investments by 11.3% in the 1st quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock worth $1,151,000 after buying an additional 1,943 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in SEI Investments by 9.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock worth $2,322,000 after buying an additional 3,424 shares in the last quarter. Institutional investors and hedge funds own 69.64% 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.