Piper Sandler Increases SEI Investments (NASDAQ:SEIC) Price Target to $114.00

SEI Investments (NASDAQ:SEIC) had its price objective increased by stock analysts at Piper Sandler from $105.00 to $114.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price target would indicate a potential upside of 19.43% from the company’s current price.

Several other research analysts have also commented on the stock. Morgan Stanley raised their price objective on shares of SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their target price on SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

SEI Investments Stock Performance

SEIC opened at $95.45 on Monday. SEI Investments has a one year low of $75.08 and a one year high of $96.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The stock has a market capitalization of $11.48 billion, a PE ratio of 16.29 and a beta of 0.97. The business’s 50 day moving average price is $90.34 and its 200 day moving average price is $85.18.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.17 EPS. As a group, equities research analysts expect that SEI Investments will post 5.92 EPS for the current year.

Insider Activity

In other news, insider Philip Mccabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the transaction, the insider directly owned 54,884 shares in the company, valued at approximately $5,039,448.88. This trade represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the transaction, the insider directly owned 921 shares in the company, valued at approximately $83,958.36. This represents a 81.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,332 shares of company stock worth $9,908,883 over the last ninety days. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of SEI Investments

Several hedge funds have recently made changes to their positions in the company. Prana Capital Management LP boosted its stake in shares of SEI Investments by 60.8% in the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock valued at $60,355,000 after buying an additional 269,023 shares in the last quarter. Polar Asset Management Partners Inc. boosted its position in shares of SEI Investments by 312.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 49,043 shares of the asset manager’s stock worth $4,161,000 after purchasing an additional 37,143 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of SEI Investments during the 3rd quarter worth $4,811,000. Oxbow Advisors LLC purchased a new stake in shares of SEI Investments during the 1st quarter worth $3,283,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of SEI Investments during the 4th quarter worth $3,217,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.