Piper Sandler Increases SEI Investments (NASDAQ:SEIC) Price Target to $77.00

SEI Investments (NASDAQ:SEIC) had its price target hoisted by Piper Sandler from $74.00 to $77.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target would suggest a potential upside of 2.83% from the stock’s previous close.

A number of other analysts have also recently commented on SEIC. Oppenheimer boosted 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.00.

SEI Investments Stock Up 5.9 %

Shares of SEIC traded up $4.18 during trading hours on Thursday, reaching $74.88. 851,557 shares of the company traded hands, compared to its average volume of 575,349. The stock has a market capitalization of $9.73 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.39 and a beta of 0.99. The business has a fifty day moving average price of $68.63 and a 200-day moving average price of $67.32. SEI Investments has a 12-month low of $52.19 and a 12-month high of $75.97.

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, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, research analysts predict that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares in the company, valued at $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,582 shares of company stock valued at $8,942,405. Company insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently made changes to their positions in SEIC. IFG Advisory LLC lifted its stake in SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after acquiring an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the last quarter. Creative Planning grew its stake in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares in the last quarter. Diversified Trust Co grew its stake in shares of SEI Investments by 0.4% during the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after purchasing an additional 202 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock valued at $190,000 after buying an additional 213 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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.