SEI Investments (NASDAQ:SEIC) Sets New 12-Month High – What’s Next?

SEI Investments (NASDAQ:SEIC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $82.11 and last traded at $81.72, with a volume of 160826 shares. The stock had previously closed at $81.57.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.50.

SEI Investments Price Performance

The stock has a fifty day moving average of $74.30 and a two-hundred day moving average of $69.23. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97.

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, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its Board of Directors has approved a stock buyback program on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the sale, the chief executive officer now directly owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 6.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 in the last quarter. Company insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments in the second quarter worth $30,000. First Horizon Advisors Inc. increased its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after purchasing an additional 275 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of SEI Investments during the third quarter worth about $45,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.