SEI Investments (NASDAQ:SEIC) Downgraded to "Hold" Rating by StockNews.com

SEI Investments (NASDAQ:SEIC - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

Other equities analysts have also issued research reports about the company. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and lowered their target price for the company from $81.00 to $77.00 in a research note on Monday, April 7th. Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $86.80.

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SEI Investments Stock Up 1.9 %

SEIC traded up $1.34 during trading on Monday, hitting $72.38. 908,815 shares of the stock were exchanged, compared to its average volume of 645,318. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The stock has a fifty day moving average price of $77.31 and a two-hundred day moving average price of $78.72. The firm has a market capitalization of $9.19 billion, a P/E ratio of 16.38, a PEG ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 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%. Analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 over the last quarter. Company insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Procyon Advisors LLC increased its stake in shares of SEI Investments by 7.9% during the 1st quarter. Procyon Advisors LLC now owns 38,420 shares of the asset manager's stock worth $2,983,000 after purchasing an additional 2,818 shares in the last quarter. Vest Financial LLC acquired a new stake in SEI Investments during the 1st quarter valued at $2,580,000. Portside Wealth Group LLC increased its position in SEI Investments by 15.3% during the first quarter. Portside Wealth Group LLC now owns 5,426 shares of the asset manager's stock worth $448,000 after buying an additional 720 shares in the last quarter. NBC Securities Inc. increased its position in SEI Investments by 112,275.0% during the first quarter. NBC Securities Inc. now owns 8,990 shares of the asset manager's stock worth $697,000 after buying an additional 8,982 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in shares of SEI Investments by 8.3% in the first quarter. Baker Tilly Wealth Management LLC now owns 6,391 shares of the asset manager's stock worth $496,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

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.