SEI Investments (NASDAQ:SEIC) Hits New 52-Week High – Time to Buy?

SEI Investments (NASDAQ:SEIC)’s stock price hit a new 52-week high on Monday . The company traded as high as $84.75 and last traded at $84.45, with a volume of 126760 shares trading hands. The stock had previously closed at $84.09.

Analyst Upgrades and Downgrades

SEIC has been the subject of several recent analyst reports. 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 note on Thursday, October 24th. Oppenheimer lifted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Performance

The stock has a market cap of $10.88 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.59 and a beta of 0.98. The business has a 50-day simple moving average of $76.54 and a two-hundred day simple moving average of $70.05.

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

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

Insider Buying and Selling

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Philip Mccabe sold 10,500 shares of SEI Investments stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.91, for a total transaction of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares of the company’s stock, valued at approximately $3,305,425.04. This trade represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,058 shares of company stock worth $7,245,697. Insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently made changes to their positions in SEIC. FMR LLC grew its holdings in SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares in the last quarter. Geode Capital Management LLC increased its position in SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after acquiring an additional 300,704 shares during the period. Dimensional Fund Advisors LP raised its stake in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in SEI Investments in the 2nd quarter valued at about $7,787,000. Finally, Verition Fund Management LLC grew its position in shares of SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after purchasing an additional 107,222 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

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.