SEI Investments (NASDAQ:SEIC) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of SEI Investments (NASDAQ:SEIC - Free Report) in a research report report published on Thursday,Benzinga reports. The firm currently has a $90.00 price target on the asset manager's stock, up from their previous price target of $86.00.

A number of other equities analysts have also recently issued reports on SEIC. Oppenheimer increased their target price 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 lifted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, January 3rd. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a report on Thursday. Finally, Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $90.00.

SEI Investments Trading Down 0.9 %

SEIC stock traded down $0.75 during mid-day trading on Thursday, reaching $85.83. The company's stock had a trading volume of 374,345 shares, compared to its average volume of 584,953. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The business's 50 day moving average price is $83.17 and its 200 day moving average price is $74.89. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released 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 return on equity of 25.51% and a net margin of 27.35%. As a group, equities analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments's previous semi-annual dividend of $0.46. This represents a yield of 1.1%. SEI Investments's payout ratio is 22.17%.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the sale, the chairman now directly owns 7,284,964 shares of the company's stock, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock valued at $15,769,472 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Portman Square Capital LLP lifted its position in shares of SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after buying an additional 149,840 shares during the last quarter. UMB Bank n.a. bought a new position in shares of SEI Investments during the 4th quarter worth $9,096,000. Finally, Verition Fund Management LLC increased its holdings in SEI Investments by 2,766.3% in the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager's stock worth $7,687,000 after acquiring an additional 107,222 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.