Piper Sandler Lowers SEI Investments (NASDAQ:SEIC) Price Target to $69.00

SEI Investments (NASDAQ:SEIC) had its price objective lowered by equities researchers at Piper Sandler from $72.00 to $69.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s price target suggests a potential upside of 3.60% from the stock’s current price.

A number of other equities analysts have also issued reports on SEIC. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Oppenheimer increased their price objective on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $69.50.

SEI Investments Trading Down 0.6 %

NASDAQ:SEIC opened at $66.60 on Thursday. The stock has a market capitalization of $8.76 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The firm has a 50 day moving average of $68.55 and a 200-day moving average of $63.31.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The company had revenue of $511.58 million for the quarter, compared to analyst estimates of $510.41 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that SEI Investments will post 4.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the sale, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,333 shares of company stock valued at $14,481,612. Company insiders own 15.50% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of SEI Investments by 32.6% in the 1st quarter. Global Retirement Partners LLC now owns 948 shares of the asset manager’s stock valued at $68,000 after buying an additional 233 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in SEI Investments by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the asset manager’s stock valued at $2,064,000 after acquiring an additional 600 shares during the period. Raymond James & Associates increased its holdings in shares of SEI Investments by 4.8% in the first quarter. Raymond James & Associates now owns 500,573 shares of the asset manager’s stock worth $35,991,000 after acquiring an additional 23,087 shares in the last quarter. State of Michigan Retirement System raised its position in shares of SEI Investments by 1.9% during the first quarter. State of Michigan Retirement System now owns 26,624 shares of the asset manager’s stock worth $1,914,000 after purchasing an additional 500 shares during the period. Finally, Procyon Advisors LLC lifted its holdings in shares of SEI Investments by 8.8% during the 1st quarter. Procyon Advisors LLC now owns 31,874 shares of the asset manager’s stock valued at $2,292,000 after purchasing an additional 2,584 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.