SEI Investments (NASDAQ:SEIC) Price Target Increased to $75.00 by Analysts at Morgan Stanley

SEI Investments (NASDAQ:SEIC - Free Report) had its target price raised by Morgan Stanley from $70.00 to $75.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the asset manager's stock.

Several other equities research analysts have also recently commented on SEIC. Oppenheimer raised their target price on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday. Piper Sandler raised their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $77.50.

SEI Investments Price Performance

Shares of SEI Investments stock traded up $3.71 during midday trading on Thursday, reaching $74.41. The company had a trading volume of 2,180,756 shares, compared to its average volume of 582,223. The stock has a fifty day moving average price of $68.63 and a 200 day moving average price of $67.32. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $75.97. The firm has a market cap of $9.67 billion, a PE ratio of 19.42, a P/E/G ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued 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. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The firm had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the previous year, the company earned $0.87 EPS. The company's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that SEI Investments will post 4.25 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding 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 usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 44,163 shares of the company's stock in a transaction on 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 transaction, the chairman now owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their ownership of the stock. 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 44,163 shares of SEI Investments stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.55, for a total value of $2,983,210.65. Following the transaction, the chairman now directly owns 7,605,414 shares in the company, 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. In the last 90 days, insiders sold 132,582 shares of company stock worth $8,942,405. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of SEI Investments in the 2nd quarter worth $1,434,000. Mediolanum International Funds Ltd bought a new stake in SEI Investments in the 1st quarter worth about $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SEI Investments by 20.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager's stock valued at $4,495,000 after buying an additional 10,670 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of SEI Investments by 21.7% during the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager's stock worth $8,296,000 after buying an additional 20,533 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of SEI Investments in the 1st quarter worth approximately $14,172,000. 70.59% of the stock is 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.