Morgan Stanley Lowers SEI Investments (NASDAQ:SEIC) Price Target to $108.00

SEI Investments (NASDAQ:SEIC) had its price target lowered by equities researchers at Morgan Stanley from $119.00 to $108.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential upside of 40.48% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. UBS Group started coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $106.00 price objective on shares of SEI Investments in a report on Friday, February 20th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.17.

SEI Investments Stock Down 1.5%

SEI Investments stock traded down $1.16 during trading on Thursday, reaching $76.88. The stock had a trading volume of 160,457 shares, compared to its average volume of 768,743. SEI Investments has a 52-week low of $64.66 and a 52-week high of $93.96. The business has a 50 day moving average price of $81.24 and a 200 day moving average price of $82.59. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The stock has a market cap of $9.40 billion, a PE ratio of 13.65 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The firm had revenue of $607.93 million for the quarter, compared to analysts’ expectations of $596.97 million. During the same period last year, the firm posted $1.19 earnings per share. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that SEI Investments will post 4.86 EPS for the current year.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at $75,282.54. This represents a 81.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 197,164 shares in the company, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,447 shares of company stock valued at $12,318,659 over the last quarter. Company insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in SEI Investments in the 4th quarter worth approximately $53,548,000. Clark Capital Management Group Inc. lifted its position in SEI Investments by 2,333.2% during the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock worth $52,973,000 after buying an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in SEI Investments in the 4th quarter worth about $43,186,000. Azora Capital LP grew its holdings in SEI Investments by 109.3% in the 2nd quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock valued at $69,907,000 after buying an additional 406,287 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in SEI Investments by 82.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after buying an additional 346,696 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

About SEI Investments

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.