SEI Investments (NASDAQ:SEIC) Stock Moved Down to “Hold” by Wall Street Zen

Wall Street Zen cut shares of SEI Investments (NASDAQ:SEIC) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also issued reports on the stock. Piper Sandler restated an “overweight” rating and set a $129.00 price target (up from $127.00) on shares of SEI Investments in a research note on Thursday, October 22nd. Weiss Ratings raised SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, October 26th. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. William Blair upgraded SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Finally, UBS Group restated a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $125.50.

SEI Investments Trading Down 1.3%

SEIC opened at $103.42 on Friday. The firm has a market capitalization of $12.26 billion, a PE ratio of 17.99 and a beta of 0.97. SEI Investments has a fifty-two week low of $75.08 and a fifty-two week high of $112.15. The company’s 50-day moving average is $105.99 and its 200 day moving average is $92.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 4.23.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The firm had revenue of $662.04 million for the quarter, compared to the consensus estimate of $656.25 million. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts predict that SEI Investments will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Lane sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total transaction of $246,672.00. Following the completion of the transaction, the executive vice president owned 39,581 shares of the company’s stock, valued at approximately $4,068,135.18. The trade was a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip McCabe sold 5,043 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total transaction of $532,036.50. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at $5,790,262. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,777 shares of company stock valued at $12,088,683 in the last ninety days. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds and other institutional investors have recently bought and sold shares of SEIC. Chicago Partners Investment Group LLC grew its stake in SEI Investments by 9.2% in the third quarter. Chicago Partners Investment Group LLC now owns 5,444 shares of the asset manager’s stock worth $557,000 after purchasing an additional 459 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of SEI Investments during the third quarter valued at $53,000. Oregon Public Employees Retirement Fund raised its holdings in shares of SEI Investments by 14.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,586 shares of the asset manager’s stock valued at $2,216,000 after acquiring an additional 2,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SEI Investments in the third quarter worth about $5,654,000. Finally, Profund Advisors LLC purchased a new stake in shares of SEI Investments in the 3rd quarter worth approximately $219,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.