SEI Investments Company (NASDAQ:SEIC) Stock Now Rated “Buy” by Sell-Side Brokerages

SEI Investments Company (NASDAQ:SEIC) has been given an average recommendation of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $125.50.

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $129.00 price objective (up from $127.00) on shares of SEI Investments in a research note on Thursday, October 22nd. William Blair upgraded SEI Investments from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 15th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Wall Street Zen lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Weiss Ratings upgraded shares of SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, October 26th.

Insider Transactions at SEI Investments

In related news, EVP Michael Lane sold 2,400 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total transaction of $246,672.00. Following the transaction, the executive vice president directly owned 39,581 shares in the company, valued at approximately $4,068,135.18. This represents a 5.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the completion of the sale, the chief executive officer directly owned 192,815 shares in the company, valued at $21,346,548.65. This trade represents a 16.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 73,777 shares of company stock worth $7,899,863. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SEIC. Allworth Financial LP lifted its stake in shares of SEI Investments by 71.8% during the 3rd quarter. Allworth Financial LP now owns 1,508 shares of the asset manager’s stock worth $155,000 after acquiring an additional 630 shares during the last quarter. Eurizon Capital SGR S.p.A. grew its position in SEI Investments by 348.1% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 466 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 362 shares during the last quarter. Fifth Third Bancorp grew its position in SEI Investments by 93.9% in the 3rd quarter. Fifth Third Bancorp now owns 48,162 shares of the asset manager’s stock valued at $4,944,000 after acquiring an additional 23,322 shares during the last quarter. King Luther Capital Management Corp increased its stake in SEI Investments by 2.2% in the third quarter. King Luther Capital Management Corp now owns 113,571 shares of the asset manager’s stock worth $11,659,000 after purchasing an additional 2,494 shares during the period. Finally, Maryland State Retirement & Pension System increased its stake in SEI Investments by 33.2% in the third quarter. Maryland State Retirement & Pension System now owns 6,832 shares of the asset manager’s stock worth $701,000 after purchasing an additional 1,701 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Up 0.1%

Shares of NASDAQ:SEIC opened at $105.30 on Tuesday. The company has a current ratio of 4.31, a quick ratio of 4.23 and a debt-to-equity ratio of 0.07. SEI Investments has a 12 month low of $75.08 and a 12 month high of $112.15. The company has a 50-day moving average price of $105.54 and a 200 day moving average price of $93.39. The company has a market cap of $12.49 billion, a price-to-earnings ratio of 18.31 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.06. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The company had revenue of $662.04 million for the quarter, compared to analysts’ expectations of $656.25 million. During the same period in the previous year, the firm posted $1.30 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities research analysts predict that SEI Investments will post 6.31 earnings per share for the current year.

About SEI Investments

SEI Investments Company is a financial technology and investment services firm founded in 1968 by Alfred P. West Jr. The company provides technology, investment management and operational services to financial institutions and investors.

Its offerings include investment processing and administration, outsourced investment management, and technology platforms that support wealth managers, asset managers, financial institutions and institutional investors. SEI also provides investment solutions through its own asset management business.

Headquartered in Oaks, Pennsylvania, SEI serves clients in the United States and internationally, including in Europe and other global markets.