SEI Investments Company (NASDAQ:SEIC) Receives $103.00 Average Price Target from Brokerages

SEI Investments Company (NASDAQ:SEIC) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $103.00.

SEIC has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Morgan Stanley cut their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Raymond James Financial restated an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a research report on Wednesday, April 29th. Finally, Piper Sandler restated an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd.

Insider Activity

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at $3,589,389.48. This represents a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the director owned 77,883 shares of the company’s stock, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,000 shares of company stock valued at $4,905,640. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently modified their holdings of the company. Community Bank N.A. bought a new position in shares of SEI Investments in the third quarter worth approximately $35,000. Allworth Financial LP boosted its position in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after purchasing an additional 132 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC boosted its position in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $89.40 on Friday. The firm has a 50 day moving average of $86.73 and a 200 day moving average of $83.88. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 15.26 and a beta of 0.97. SEI Investments has a 12-month low of $75.08 and a 12-month high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The company had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share. On average, research analysts anticipate that SEI Investments will post 5.89 earnings per share for the current year.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be given a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date is Monday, June 8th. SEI Investments’s dividend payout ratio is presently 17.75%.

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.