SEI Investments (NASDAQ:SEIC) Reaches New 12-Month High – Time to Buy?

SEI Investments (NASDAQ:SEIC) reached a new 52-week high during trading on Tuesday . The stock traded as high as $82.11 and last traded at $81.72, with a volume of 160826 shares traded. The stock had previously closed at $81.57.

Analyst Ratings Changes

SEIC has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Price Performance

The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.97. The business has a fifty day moving average price of $74.00 and a two-hundred day moving average price of $69.13.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. On average, 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 authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Hicke sold 10,000 shares of the company’s 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 transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,064 shares of company stock worth $9,282,489. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter worth approximately $30,000. First Horizon Advisors Inc. raised 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 buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 386 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other 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.