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

SEI Investments (NASDAQ:SEIC) had its price target hoisted by research analysts at Oppenheimer from $85.00 to $94.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s target price points to a potential upside of 14.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SEIC. Morgan Stanley lifted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Finally, Piper Sandler upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.75.

SEI Investments Trading Down 0.1 %

Shares of SEI Investments stock opened at $81.85 on Tuesday. SEI Investments has a 1-year low of $62.34 and a 1-year high of $87.25. The firm has a fifty day simple moving average of $81.69 and a 200-day simple moving average of $72.62. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the prior year, the business earned $0.87 earnings per share. SEI Investments’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, research analysts predict that SEI Investments will post 4.41 earnings per share for the current year.

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

Insider Buying and Selling

In related news, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were 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 directly owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock worth $19,753,402 in the last 90 days. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several institutional investors have recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the 2nd quarter valued at $30,000. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised 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 acquiring an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new position in SEI Investments during the third quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 168 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.