SEI Investments (NASDAQ:SEIC) Hits New 52-Week High – Still a Buy?

SEI Investments (NASDAQ:SEIC) reached a new 52-week high during trading on Monday . The stock traded as high as $83.15 and last traded at $82.57, with a volume of 10614 shares changing hands. The stock had previously closed at $82.63.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SEIC shares. Morgan Stanley boosted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer raised their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Down 0.3 %

The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.55 and a beta of 0.98. The business’s 50 day simple moving average is $75.40 and its 200-day simple moving average is $69.63.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data 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. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period last year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total transaction of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at $514,410. This trade represents a 60.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 over the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. boosted 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 worth $32,000 after buying an additional 232 shares during the period. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments during the second quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Finally, Point72 DIFC Ltd bought a new position in SEI Investments during the 3rd quarter worth $45,000. Institutional investors and hedge funds 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.