Keefe, Bruyette & Woods Issues Positive Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC) had its target price raised by Keefe, Bruyette & Woods from $76.00 to $86.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the asset manager’s stock.

Other equities analysts have also issued reports about the company. Morgan Stanley boosted their price objective on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler raised their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report 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. According to data from MarketBeat.com, SEI Investments has an average rating of “Hold” and an average price target of $80.75.

SEI Investments Stock Up 1.6 %

SEIC stock opened at $82.75 on Friday. The business has a fifty day moving average of $79.20 and a 200-day moving average of $71.08. The company has a market cap of $10.67 billion, a P/E ratio of 19.99, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a twelve month low of $61.58 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, equities research analysts anticipate that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be paid a $0.49 dividend. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio is currently 23.67%.

SEI Investments declared that its board has approved a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments 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 sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 239,258 shares of company stock valued at $19,753,402 over the last ninety days. 14.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the 2nd quarter worth about $30,000. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the third quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $77,000 after purchasing an additional 168 shares in the last quarter. 70.59% of the stock is 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.