Analysts Set SEI Investments Company (NASDAQ:SEIC) Target Price at $109.20

SEI Investments Company (NASDAQ:SEIC) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $110.1667.

A number of research firms recently weighed in on SEIC. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Raymond James Financial restated an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a research report on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. UBS Group assumed coverage on shares of SEI Investments in a research note on Wednesday. They issued a “buy” rating and a $115.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th.

SEI Investments Stock Up 0.0%

Shares of NASDAQ:SEIC opened at $84.45 on Friday. SEI Investments has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $84.49 and its 200-day simple moving average is $84.87. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The firm had revenue of $607.93 million during the quarter, compared to the consensus estimate of $596.97 million. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were issued a $0.52 dividend. The ex-dividend date was Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio is currently 18.47%.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the transaction, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of SEI Investments in the second quarter valued at $55,685,000. PFA Pension Forsikringsaktieselskab purchased a new stake in SEI Investments during the 4th quarter worth about $43,186,000. Jupiter Asset Management Ltd. acquired a new position in SEI Investments in the 2nd quarter valued at about $37,490,000. Azora Capital LP lifted its holdings in SEI Investments by 109.3% in the 2nd quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock valued at $69,907,000 after purchasing an additional 406,287 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of SEI Investments by 82.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after purchasing an additional 346,696 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other 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.