SEI Investments (NASDAQ:SEIC) Sets New 52-Week High – Should You Buy?

SEI Investments (NASDAQ:SEIC) reached a new 52-week high on Tuesday . The company traded as high as $76.44 and last traded at $76.43, with a volume of 248378 shares traded. The stock had previously closed at $75.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price target (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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Up 0.7 %

The business has a 50 day moving average of $69.12 and a 200 day moving average of $67.41. The company has a market capitalization of $9.92 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 1.43 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The business 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 for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.87 EPS. On average, research analysts anticipate that SEI Investments will post 4.38 EPS for the current year.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,582 shares of company stock worth $8,942,405. 14.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. increased its holdings in SEI Investments by 21.3% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager’s stock worth $459,000 after purchasing an additional 1,165 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in SEI Investments by 22.5% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 5,537 shares of the asset manager’s stock worth $383,000 after purchasing an additional 1,016 shares during the period. State of Alaska Department of Revenue increased its holdings in SEI Investments by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 199,610 shares of the asset manager’s stock worth $13,811,000 after purchasing an additional 775 shares during the period. Mediolanum International Funds Ltd increased its holdings in SEI Investments by 3.1% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,659 shares of the asset manager’s stock worth $1,429,000 after purchasing an additional 625 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in SEI Investments by 6,818.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock worth $177,000 after purchasing an additional 2,523 shares during the period. 70.59% of the stock is currently owned by hedge funds and other 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.