SEI Investments (NASDAQ:SEIC) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of SEI Investments (NASDAQ:SEIC) from a buy rating to a hold rating in a report released on Wednesday.

Several other research analysts also recently issued reports on SEIC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler lowered their price target on SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley upgraded SEI Investments from an “underweight” rating to an “overweight” rating and dropped their price target for the company from $81.00 to $77.00 in a research report on Monday, April 7th. Oppenheimer increased their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report 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 data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $86.80.

SEI Investments Stock Performance

SEI Investments stock opened at $71.43 on Wednesday. The company has a market capitalization of $9.07 billion, a P/E ratio of 16.16, a PEG 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. The stock has a 50-day simple moving average of $76.52 and a 200-day simple moving average of $78.73.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction 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 directly owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $31,000. Allworth Financial LP raised its position 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 valued at $38,000 after buying an additional 158 shares during the last quarter. Versant Capital Management Inc raised its position in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after buying an additional 331 shares during the last quarter. First Horizon Advisors Inc. lifted 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 buying an additional 117 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in SEI Investments during the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors 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.