SEI Investments (NASDAQ:SEIC) Stock Rating Upgraded by Raymond James

SEI Investments (NASDAQ:SEIC) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Thursday,Finviz reports. The firm presently has a $99.00 price objective on the asset manager’s stock. Raymond James’ price target points to a potential upside of 19.33% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods raised their target price on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Morgan Stanley increased their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Hold” and an average price target of $89.20.

SEI Investments Stock Down 1.7 %

Shares of SEI Investments stock opened at $82.96 on Thursday. The firm has a market cap of $10.69 billion, a PE ratio of 20.04, a P/E/G ratio of 1.44 and a beta of 0.98. The business has a 50-day moving average price of $82.94 and a 200 day moving average price of $74.60. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. On average, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

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

Insider Activity

In related news, EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $514,410. The trade was a 60.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated 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 directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock valued at $15,769,472 in the last quarter. Insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its stake in shares of SEI Investments by 29.4% in the second quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock valued at $766,000 after purchasing an additional 2,689 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of SEI Investments in the second quarter worth $2,775,000. JLB & Associates Inc. increased its position in shares of SEI Investments by 1.0% during the third quarter. JLB & Associates Inc. now owns 288,524 shares of the asset manager’s stock worth $19,963,000 after acquiring an additional 2,722 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of SEI Investments by 8.5% in the third quarter. Handelsbanken Fonder AB now owns 26,900 shares of the asset manager’s stock valued at $1,861,000 after acquiring an additional 2,100 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other 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.