SEI Investments (NASDAQ:SEIC) Price Target Raised to $87.00

SEI Investments (NASDAQ:SEIC) had its target price raised by Piper Sandler from $77.00 to $87.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

A number of other research analysts have also recently commented on the stock. Oppenheimer increased their price target 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. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Morgan Stanley boosted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note 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 stock. According to MarketBeat, SEI Investments has an average rating of “Hold” and an average price target of $83.25.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $84.46 on Monday. The firm has a market capitalization of $10.89 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a 52-week low of $61.58 and a 52-week high of $87.25. The firm has a fifty day moving average of $80.19 and a 200 day moving average of $71.59.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 earnings per share. On average, sell-side analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

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

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be paid a $0.49 dividend. This represents a dividend yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s payout ratio is presently 23.67%.

Insiders Place Their Bets

In related news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Several large investors have recently bought and sold shares of SEIC. Aurora Investment Counsel lifted its stake in shares of SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after purchasing an additional 144 shares during the period. IFG Advisory LLC lifted its position in SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after buying an additional 166 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $77,000 after buying an additional 168 shares in the last quarter. Creative Planning grew its position in shares of SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after buying an additional 182 shares during the period. Finally, Signaturefd LLC increased its stake in shares of SEI Investments by 7.8% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after acquiring an additional 213 shares in the last quarter. 70.59% of the stock is owned by 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.