UBS Group Initiates Coverage on SEI Investments (NASDAQ:SEIC)

Equities researchers at UBS Group assumed coverage on shares of SEI Investments (NASDAQ:SEIC) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $115.00 price target on the asset manager’s stock. UBS Group’s price target indicates a potential upside of 36.24% from the company’s previous close.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler upped their target price on SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Morgan Stanley lifted their price target on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a report on Monday, January 5th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.17.

SEI Investments Stock Performance

SEI Investments stock opened at $84.41 on Wednesday. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $84.42 and a 200-day moving average of $84.95. The stock has a market cap of $10.34 billion, a P/E ratio of 14.99 and a beta of 0.95. SEI Investments has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the prior year, the business posted $1.19 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock buyback program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the sale, the chief executive officer owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC lifted its position in SEI Investments by 349.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 63,902 shares of the asset manager’s stock worth $5,422,000 after buying an additional 49,676 shares in the last quarter. First Citizens Bank & Trust Co. raised its holdings in SEI Investments by 114.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock worth $1,916,000 after purchasing an additional 11,373 shares during the last quarter. Norges Bank bought a new position in shares of SEI Investments in the 2nd quarter valued at about $55,685,000. iSAM Funds UK Ltd acquired a new stake in shares of SEI Investments during the 2nd quarter worth approximately $1,804,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of SEI Investments by 22.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 72,953 shares of the asset manager’s stock worth $6,190,000 after buying an additional 13,423 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.