SEI Investments (NASDAQ:SEIC) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of SEI Investments (NASDAQ:SEIC) from an underweight rating to an overweight rating in a research note released on Monday morning, MarketBeat Ratings reports. They currently have $77.00 price objective on the asset manager’s stock, down from their previous price objective of $81.00.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Oppenheimer boosted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Piper Sandler boosted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $73.03 on Monday. The company has a fifty day moving average of $77.88 and a 200 day moving average of $78.67. The company has a market capitalization of $9.27 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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 analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a share buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,214 shares of company stock worth $6,293,903. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of SEI Investments during the fourth quarter valued at about $48,009,000. Raymond James Financial Inc. purchased a new stake in shares of SEI Investments during the 4th quarter valued at $42,548,000. GAMMA Investing LLC grew its stake in SEI Investments by 9,563.5% during the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock worth $36,526,000 after buying an additional 465,646 shares during the last quarter. FMR LLC raised its stake in SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of SEI Investments during the fourth quarter valued at about $26,702,000. 70.59% of the stock is owned by institutional investors.

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.