Piper Sandler Issues Pessimistic Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price objective lowered by research analysts at Piper Sandler from $87.00 to $74.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the asset manager's stock. Piper Sandler's target price would indicate a potential upside of 2.24% from the company's current price.

Several other equities research analysts have also recently commented on SEIC. StockNews.com cut SEI Investments from a "buy" rating to a "hold" rating in a report on Monday, April 7th. Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and cut their price objective for the company from $81.00 to $77.00 in a report on Monday, April 7th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Raymond James upgraded shares of 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, Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $86.80.

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SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $1.34 on Tuesday, hitting $72.38. The company's stock had a trading volume of 908,815 shares, compared to its average volume of 645,318. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock's 50-day moving average is $77.31 and its two-hundred day moving average is $78.72.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results 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%. Equities analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock worth $6,293,903. Corporate insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC increased its position in SEI Investments by 4.0% during the third quarter. HighTower Advisors LLC now owns 10,939 shares of the asset manager's stock worth $761,000 after buying an additional 425 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of SEI Investments during the 3rd quarter valued at about $540,000. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the 3rd quarter valued at approximately $45,000. Quantinno Capital Management LP lifted its holdings in SEI Investments by 56.7% in the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager's stock worth $1,217,000 after purchasing an additional 6,364 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in SEI Investments by 9,796.7% in the 3rd quarter. National Bank of Canada FI now owns 2,969 shares of the asset manager's stock worth $205,000 after purchasing an additional 2,939 shares during the last quarter. Institutional investors 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.