Morgan Stanley Issues Pessimistic Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $84.00 to $81.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the asset manager's stock. Morgan Stanley's price objective would suggest a potential upside of 19.38% from the stock's current price.

Several other analysts also recently commented on SEIC. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Finally, Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, SEI Investments currently has an average rating of "Moderate Buy" and a consensus price target of $89.40.

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SEI Investments Price Performance

Shares of SEI Investments stock traded down $1.17 during trading on Wednesday, hitting $67.85. 1,304,485 shares of the company were exchanged, compared to its average volume of 636,243. The firm has a market capitalization of $8.61 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The firm's fifty day moving average price is $79.41 and its 200 day moving average price is $78.79. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) 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 25.51%. As a group, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 in the last quarter. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SEIC. FMR LLC grew its stake in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock valued at $61,241,000 after buying an additional 632,024 shares in the last quarter. Norges Bank bought a new position in shares of SEI Investments in the 4th quarter valued at about $48,009,000. Raymond James Financial Inc. acquired a new position in shares of SEI Investments during the 4th quarter worth about $42,548,000. GAMMA Investing LLC raised its holdings in shares of SEI Investments by 9,563.5% in the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after purchasing an additional 465,646 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in SEI Investments in the 4th quarter valued at about $26,702,000. 70.59% of the stock is currently owned by 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.