Raymond James Financial Raises SEI Investments (NASDAQ:SEIC) Price Target to $124.00

SEI Investments (NASDAQ:SEIC) had its target price increased by equities research analysts at Raymond James Financial from $122.00 to $124.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Raymond James Financial’s price target points to a potential upside of 32.43% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Piper Sandler restated an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods increased their price objective on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and a consensus target price of $110.00.

SEI Investments Price Performance

Shares of SEIC stock traded up $2.21 during mid-day trading on Monday, hitting $93.64. 220,998 shares of the stock traded hands, compared to its average volume of 798,872. SEI Investments has a twelve month low of $75.08 and a twelve month high of $93.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The company’s 50-day simple moving average is $89.90 and its 200-day simple moving average is $84.77. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 15.98 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. As a group, equities research analysts expect that SEI Investments will post 5.89 earnings per share for the current year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the transaction, the insider owned 54,884 shares of the company’s stock, valued at $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the director directly owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 111,332 shares of company stock worth $9,908,883. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Community Bank N.A. purchased a new stake in SEI Investments in the 3rd quarter worth $35,000. Allworth Financial LP boosted its stake in SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares in the last quarter. Root Financial Partners LLC increased its stake in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares during the last quarter. Finally, CX Institutional boosted its position in shares of SEI Investments by 44.6% during the 2nd quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 164 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.