Oppenheimer Raises SEI Investments (NASDAQ:SEIC) Price Target to $94.00

SEI Investments (NASDAQ:SEIC) had its target price increased by Oppenheimer from $85.00 to $94.00 in a research note published on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley raised their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Piper Sandler upped their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.75.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $81.48 on Tuesday. The company’s fifty day moving average is $82.02 and its two-hundred day moving average is $72.85. SEI Investments has a 1-year low of $62.34 and a 1-year high of $87.25. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the company earned $0.87 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts expect that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio is currently 23.67%.

SEI Investments announced that its board has initiated a share repurchase program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by company insiders.

Institutional Trading of SEI Investments

Several large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its stake in shares of SEI Investments by 3.1% in the 2nd quarter. TD Asset Management Inc now owns 189,869 shares of the asset manager’s stock valued at $12,283,000 after purchasing an additional 5,723 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of SEI Investments by 9.5% during the 2nd quarter. Victory Capital Management Inc. now owns 160,275 shares of the asset manager’s stock worth $10,368,000 after acquiring an additional 13,903 shares in the last quarter. Caprock Group LLC increased its holdings in shares of SEI Investments by 7.9% during the 2nd quarter. Caprock Group LLC now owns 3,596 shares of the asset manager’s stock valued at $233,000 after acquiring an additional 264 shares during the last quarter. Quest Partners LLC increased its holdings in shares of SEI Investments by 4.8% during the 2nd quarter. Quest Partners LLC now owns 27,949 shares of the asset manager’s stock valued at $1,808,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after acquiring an additional 8,387 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

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.