SEI Investments (NASDAQ:SEIC) Stock Price Expected to Rise, Piper Sandler Analyst Says

SEI Investments (NASDAQ:SEIC) had its target price upped by equities research analysts at Piper Sandler from $77.00 to $87.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s target price would indicate a potential upside of 5.14% from the stock’s previous close.

A number of other research firms have also recently issued reports on SEIC. Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley increased their target price 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.25.

SEI Investments Stock Performance

SEI Investments stock opened at $82.75 on Monday. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 19.99, a PEG 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 50 day moving average price of $79.45 and a two-hundred day moving average price of $71.25.

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

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in 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 generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was 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 of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 239,258 shares of company stock worth $19,753,402. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Institutional investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the 2nd quarter valued at $30,000. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments in the 3rd quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in SEI Investments by 16.3% in 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 during the last quarter. Institutional investors own 70.59% of the company’s stock.

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.