SEI Investments (NASDAQ:SEIC) PT Set at $84.00 by Morgan Stanley

SEI Investments (NASDAQ:SEIC) has been assigned a $84.00 target price by research analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price indicates a potential downside of 2.06% from the company’s previous close.

Several other analysts have also commented on SEIC. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Piper Sandler boosted their target price on SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Oppenheimer restated an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. William Blair reissued a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and a consensus target price of $88.00.

SEI Investments Trading Up 0.7%

NASDAQ:SEIC traded up $0.56 during mid-day trading on Tuesday, hitting $85.77. 218,505 shares of the company’s stock traded hands, compared to its average volume of 718,747. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. The firm has a 50 day moving average of $78.52 and a two-hundred day moving average of $80.38. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. As a group, equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer now directly owns 171,260 shares of the company’s stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider now owns 23,895 shares of the company’s stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 232,126 shares of company stock worth $19,638,659. Insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently modified their holdings of SEIC. CoreFirst Bank & Trust bought a new position in SEI Investments during the fourth quarter valued at approximately $31,000. Allworth Financial LP grew its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the period. Versant Capital Management Inc grew its holdings in SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock worth $42,000 after acquiring an additional 331 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other 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.