SEI Investments (NASDAQ:SEIC) Price Target Raised to $113.00 at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its target price raised by analysts at Keefe, Bruyette & Woods from $107.00 to $113.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 19.29% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Morgan Stanley raised their price target on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James Financial lifted their price target on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.40.

SEI Investments Stock Up 0.2%

Shares of NASDAQ SEIC opened at $94.73 on Friday. SEI Investments has a 1 year low of $75.08 and a 1 year high of $96.60. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 16.17 and a beta of 0.97. 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 stock’s 50-day simple moving average is $90.25 and its 200-day simple moving average is $85.10.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.SEI Investments’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. As a group, equities analysts anticipate that SEI Investments will post 5.9 earnings per share for the current fiscal year.

Insider Activity

In other SEI Investments news, insider Mark Andrew Warner sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider owned 921 shares in the company, valued at $83,958.36. This represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 7,332 shares of SEI Investments stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $87.39, for a total value of $640,743.48. Following the completion of the transaction, the chairman owned 6,818,451 shares of the company’s stock, valued at approximately $595,864,432.89. The trade was a 0.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,332 shares of company stock valued at $9,908,883 over the last three months. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after purchasing an additional 133,057 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after buying an additional 109,974 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of SEI Investments by 19.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after buying an additional 308,988 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after buying an additional 20,054 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock valued at $143,025,000 after buying an additional 21,731 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Company Profile

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.