SEI Investments (NASDAQ:SEIC) Price Target Cut to $95.00 by Analysts at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $107.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 26.36% from the company’s previous close.

A number of other equities research analysts have also recently commented on SEIC. Morgan Stanley reduced their price target 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 restated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler decreased their target price on SEI Investments from $106.00 to $99.00 and set an “overweight” rating for the company in a research report on Tuesday. UBS Group initiated coverage on SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a research report on Monday, January 5th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.83.

SEI Investments Stock Performance

SEIC stock opened at $75.18 on Wednesday. SEI Investments has a 1-year low of $65.49 and a 1-year high of $93.96. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $80.52 and a 200-day moving average price of $82.27. The firm has a market cap of $9.19 billion, a PE ratio of 13.35 and a beta of 0.94.

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

Insider Activity

In other news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the transaction, the chairman directly owned 6,883,230 shares in the company, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 146,447 shares of company stock worth $12,318,659 in the last three months. Corporate insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bison Wealth LLC purchased a new position in shares of SEI Investments in the fourth quarter worth $207,000. Baird Financial Group Inc. bought a new stake in shares of SEI Investments in the 1st quarter worth $201,000. Geneos Wealth Management Inc. grew its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares during the period. M&T Bank Corp lifted its position in SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 341 shares during the period. Finally, CW Advisors LLC purchased a new stake in SEI Investments in the second quarter worth approximately $280,000. 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.