SEI Investments (NASDAQ:SEIC) Price Target Cut to $108.00 by Analysts at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its price objective dropped by equities researchers at Morgan Stanley from $119.00 to $108.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential upside of 40.48% from the company’s current price.

SEIC has been the subject of a number of other research reports. UBS Group started coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price objective for the company. Raymond James Financial restated an “outperform” rating and set a $117.00 price objective on shares of SEI Investments in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $106.00 price objective on shares of SEI Investments in a report on Friday, February 20th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.17.

SEI Investments Stock Down 1.5%

Shares of NASDAQ SEIC traded down $1.16 during mid-day trading on Thursday, reaching $76.88. 160,457 shares of the company were exchanged, compared to its average volume of 768,743. SEI Investments has a 1 year low of $64.66 and a 1 year high of $93.96. The firm has a 50-day moving average of $81.24 and a 200 day moving average of $82.59. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 13.65 and a beta of 0.94. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to analysts’ expectations of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 55,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total transaction of $4,412,650.00. Following the transaction, the chairman directly owned 6,883,230 shares of the company’s stock, valued at $552,241,542.90. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the transaction, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 146,447 shares of company stock worth $12,318,659 in the last 90 days. Corporate insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of SEI Investments by 185.4% in the 4th quarter. Hsbc Holdings PLC now owns 180,716 shares of the asset manager’s stock valued at $14,895,000 after acquiring an additional 117,400 shares during the period. Rockefeller Capital Management L.P. increased its stake in SEI Investments by 25.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 150,008 shares of the asset manager’s stock worth $12,304,000 after purchasing an additional 30,122 shares during the period. World Investment Advisors purchased a new stake in SEI Investments during the 4th quarter worth approximately $277,000. SHP Wealth Management acquired a new stake in SEI Investments during the 4th quarter worth approximately $372,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of SEI Investments in the fourth quarter worth $102,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.