SEI Investments (NASDAQ:SEIC) Hits New 52-Week High - Should You Buy?

Shares of SEI Investments (NASDAQ:SEIC - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $73.71 and last traded at $71.49, with a volume of 23530 shares trading hands. The stock had previously closed at $71.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SEIC. Oppenheimer lifted their target price on SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Piper Sandler boosted their price objective on shares of SEI Investments from $71.00 to $74.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, SEI Investments has a consensus rating of "Hold" and a consensus price target of $72.25.

SEI Investments Trading Down 0.6 %

The company has a market capitalization of $9.18 billion, a PE ratio of 18.62, a PEG ratio of 1.44 and a beta of 0.99. The firm's 50-day simple moving average is $68.53 and its 200-day simple moving average is $67.30.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. During the same period last year, the business posted $0.89 EPS. SEI Investments's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that SEI Investments will post 4.25 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now directly owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares of the company's stock, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the company's 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 transaction, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,582 shares of company stock worth $8,942,405 in the last three months. 14.30% of the stock is owned by insiders.

Institutional Trading of SEI Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments in the second quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of 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 purchasing an additional 386 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock valued at $41,000 after purchasing an additional 275 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in shares of SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock valued at $50,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

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.