SEI Investments (NASDAQ:SEIC) Raised to “Outperform” at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday,Finviz reports. The brokerage presently has a $97.00 price target on the asset manager’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 18.31% from the company’s previous close.

Several other brokerages have also recently weighed in on SEIC. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Morgan Stanley upped their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Raymond James Financial lifted their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, SEI Investments presently has an average rating of “Moderate Buy” and an average target price of $105.20.

SEI Investments Trading Down 1.2%

SEIC stock opened at $81.99 on Tuesday. SEI Investments has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a market capitalization of $10.04 billion, a PE ratio of 15.07 and a beta of 0.98. The company’s 50-day simple moving average is $81.57 and its 200 day simple moving average is $85.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. During the same quarter in the previous year, the firm posted $1.19 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the transaction, the director owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,770 shares of company stock valued at $3,723,850 in the last 90 days. 14.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bison Wealth LLC acquired a new position in shares of SEI Investments during the fourth quarter worth $207,000. Nuveen LLC bought a new position in SEI Investments during the 1st quarter worth $21,407,000. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock worth $134,487,000 after buying an additional 111,065 shares during the period. Raymond James Financial Inc. grew its position in shares of SEI Investments by 3.2% in the 1st quarter. Raymond James Financial Inc. now owns 532,195 shares of the asset manager’s stock valued at $41,314,000 after buying an additional 16,337 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of SEI Investments by 166.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 70,272 shares of the asset manager’s stock worth $5,455,000 after acquiring an additional 43,890 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.