SEI Investments (NASDAQ:SEIC) Sets New 1-Year High – Here’s Why

SEI Investments (NASDAQ:SEIC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $80.54 and last traded at $80.21, with a volume of 24555 shares changing hands. The stock had previously closed at $76.78.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Piper Sandler upped their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Oppenheimer upped their price objective on shares of 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 given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

The stock has a fifty day simple moving average of $70.18 and a 200-day simple moving average of $67.81. The stock has a market cap of $10.27 billion, a P/E ratio of 18.55, a PEG ratio of 1.44 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 4.38 earnings per share for the current year.

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

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Philip Mccabe sold 10,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares of the company’s stock, valued at $3,305,425.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,646 shares of company stock worth $12,926,334 in the last three months. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SEIC. Fairfield Financial Advisors LTD bought a new position in SEI Investments in the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 500 shares during the period. EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares during the period. Bessemer Group Inc. increased its holdings in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after purchasing an additional 386 shares during the period. Finally, Mather Group LLC. increased its holdings in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares during the period. 70.59% of the stock is owned by institutional investors.

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.