SEI Investments (NASDAQ:SEIC) Price Target Raised to $84.00

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price objective raised by Keefe, Bruyette & Woods from $80.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm currently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 7.56% from the stock's previous close.

SEIC has been the subject of a number of other research reports. Piper Sandler raised their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday. Morgan Stanley reaffirmed an "overweight" rating and issued a $82.00 target price (up from $77.00) on shares of SEI Investments in a research report on Thursday. StockNews.com raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a research note on Thursday. Finally, William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.60.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $0.60 on Friday, hitting $78.10. The company's stock had a trading volume of 138,835 shares, compared to its average volume of 650,005. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a market capitalization of $9.82 billion, a PE ratio of 17.67, a PEG ratio of 1.41 and a beta of 0.90. The company has a 50-day simple moving average of $75.32 and a 200 day simple moving average of $78.86.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. On average, equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after buying an additional 60,307 shares during the period. Boston Trust Walden Corp grew its holdings in SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock worth $102,897,000 after acquiring an additional 19,150 shares during the period. FMR LLC increased its holdings in shares of SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after acquiring an additional 46,425 shares during the period. Finally, Northern Trust Corp boosted its position in SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock worth $88,104,000 after purchasing an additional 184,339 shares in 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.

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