Piper Sandler Cuts SEI Investments (NASDAQ:SEIC) Price Target to $99.00

SEI Investments (NASDAQ:SEIC) had its price objective cut by Piper Sandler from $106.00 to $99.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price target suggests a potential upside of 30.56% from the stock’s current price.

SEIC has been the topic of several other research reports. UBS Group assumed coverage on shares of SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Morgan Stanley lowered their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a report on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $107.00.

SEI Investments Stock Down 0.2%

SEIC traded down $0.14 during trading on Tuesday, hitting $75.83. 452,404 shares of the company’s stock were exchanged, compared to its average volume of 769,006. 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 business’s 50 day moving average is $80.71 and its two-hundred day moving average is $82.35. SEI Investments has a fifty-two week low of $65.49 and a fifty-two week high of $93.96. The stock has a market cap of $9.27 billion, a P/E ratio of 13.46 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The business had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the previous year, the company posted $1.19 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following the completion of the sale, the insider owned 921 shares in the company, valued at approximately $75,282.54. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the sale, the chief executive officer 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 sold a total of 146,447 shares of company stock worth $12,318,659 over the last quarter. Insiders own 14.60% of the company’s stock.

Institutional Trading of SEI Investments

Large investors have recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC increased its holdings in SEI Investments by 349.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 63,902 shares of the asset manager’s stock worth $5,422,000 after buying an additional 49,676 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in SEI Investments by 3,554.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,042 shares of the asset manager’s stock worth $2,295,000 after purchasing an additional 26,302 shares during the period. Vanguard Group Inc. boosted its position in SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after purchasing an additional 30,970 shares during the period. Allianz Asset Management GmbH boosted its position in SEI Investments by 21.1% during the third quarter. Allianz Asset Management GmbH now owns 174,266 shares of the asset manager’s stock worth $14,786,000 after purchasing an additional 30,411 shares during the period. Finally, M&G PLC bought a new position in SEI Investments during the third quarter worth about $10,413,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.