SEI Investments (NASDAQ:SEIC) Reaches New 52-Week High – What’s Next?

SEI Investments (NASDAQ:SEIC) shares reached a new 52-week high on Thursday . The stock traded as high as $81.74 and last traded at $81.67, with a volume of 90910 shares trading hands. The stock had previously closed at $80.65.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Finally, Oppenheimer increased their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.54 and a beta of 0.97. The business’s 50 day moving average is $71.76 and its 200 day moving average is $68.38.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts predict that SEI Investments will post 4.38 EPS for the current year.

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

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $514,410. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the sale, the chairman now owns 7,605,414 shares of the company’s stock, valued at approximately $513,745,715.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,646 shares of company stock valued at $14,115,934 in the last ninety days. 14.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently bought and sold shares of SEIC. Verition Fund Management LLC grew its position in SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after acquiring an additional 107,222 shares during the period. Capstone Investment Advisors LLC acquired a new position in SEI Investments during the third quarter worth $283,000. Vinva Investment Management Ltd boosted its position in shares of SEI Investments by 45.4% during the third quarter. Vinva Investment Management Ltd now owns 49,136 shares of the asset manager’s stock worth $3,404,000 after buying an additional 15,341 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 buying an additional 10,576 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of SEI Investments in the 3rd quarter valued at $237,000. 70.59% of the stock is 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.