Oppenheimer Issues Positive Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC - Get Free Report) had its target price upped by equities researchers at Oppenheimer from $85.00 to $94.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Oppenheimer's price objective points to a potential upside of 15.79% from the stock's previous close.

A number of other research analysts have also commented on SEIC. Piper Sandler upped their price target on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a "market perform" rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $86.75.

SEI Investments Stock Down 0.8 %

SEIC stock traded down $0.67 during midday trading on Tuesday, hitting $81.18. 616,666 shares of the company traded hands, compared to its average volume of 604,066. SEI Investments has a twelve month low of $62.34 and a twelve month high of $87.25. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The business has a 50 day simple moving average of $81.78 and a 200-day simple moving average of $72.73.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. Equities research analysts forecast that SEI Investments will post 4.41 EPS for the current year.

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

Insiders Place Their Bets

In other news, Director Carmen Romeo sold 5,000 shares of the firm'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 sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 10,000 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Aurora Investment Counsel increased its stake in shares of SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock valued at $1,741,000 after buying an additional 144 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock worth $77,000 after purchasing an additional 168 shares during the period. Creative Planning raised its holdings in SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after purchasing an additional 182 shares during the last quarter. First Horizon Advisors Inc. lifted its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock valued at $32,000 after purchasing an additional 232 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of SEI Investments by 7.9% in the 2nd quarter. Caprock Group LLC now owns 3,596 shares of the asset manager's stock valued at $233,000 after purchasing an additional 264 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.