SEI Investments (NASDAQ:SEIC) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of SEI Investments (NASDAQ:SEIC) in a research report sent to investors on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a $90.00 target price on the asset manager’s stock, up from their prior target price of $86.00.

SEIC has been the topic of several other reports. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Piper Sandler raised their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Finally, Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.00.

SEI Investments Stock Performance

SEIC opened at $86.03 on Thursday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The firm has a 50-day moving average of $83.05 and a 200 day moving average of $74.68. The firm has a market cap of $11.09 billion, a P/E ratio of 19.46, a PEG ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.41%. Equities research analysts predict that SEI Investments will post 4.89 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is presently 22.17%.

Insider Activity at SEI Investments

In other news, EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $514,410. The trade was a 60.61 % 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. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,194 shares of company stock valued at $15,769,472 in the last 90 days. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of 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 last quarter. Boston Trust Walden Corp grew its stake in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after buying an additional 20,020 shares in the last quarter. FMR LLC lifted its stake in shares of 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 purchasing an additional 632,024 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after acquiring an additional 10,576 shares during the period. Finally, Raymond James & Associates raised its position in SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 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.