SEI Investments (NASDAQ:SEIC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of SEI Investments (NASDAQ:SEIC) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other analysts also recently commented on SEIC. Oppenheimer upped their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research report on Thursday, January 30th. Morgan Stanley upgraded SEI Investments from an “underweight” rating to an “overweight” rating and reduced their price target for the stock from $81.00 to $77.00 in a report on Monday. Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

SEI Investments Stock Up 9.9 %

SEIC stock opened at $73.03 on Monday. The firm’s fifty day simple moving average is $77.88 and its two-hundred day simple moving average is $78.67. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, equities research analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a share buyback plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently added to or reduced their stakes in SEIC. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares during the last quarter. Venturi Wealth Management LLC lifted its position in SEI Investments by 7.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC increased its holdings in SEI Investments by 2.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after buying an additional 145 shares during the period. Principal Securities Inc. lifted its holdings in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP increased its stake in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Company Profile

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.