SEI Investments Company (NASDAQ:SEIC) Receives $103.00 Consensus Target Price from Analysts

SEI Investments Company (NASDAQ:SEIC) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $103.00.

SEIC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Morgan Stanley reduced their price target on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target on shares of SEI Investments in a research report on Wednesday, April 29th.

SEI Investments Price Performance

SEI Investments stock opened at $92.01 on Tuesday. SEI Investments has a 12-month low of $75.08 and a 12-month high of $93.96. The stock has a market cap of $11.07 billion, a P/E ratio of 15.70 and a beta of 1.00. The company has a 50-day moving average price of $82.66 and a 200 day moving average price of $82.81. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. During the same period last year, the business earned $1.17 earnings per share. SEI Investments’s revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 5.89 earnings per share for the current year.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 7,447 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total transaction of $590,249.22. Following the sale, the chairman owned 6,875,783 shares of the company’s stock, valued at approximately $544,974,560.58. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider directly owned 921 shares in the company, valued at approximately $83,958.36. The trade was a 81.28% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 120,447 shares of company stock worth $10,235,499. 4.80% of the stock is owned by company insiders.

Institutional Trading of SEI Investments

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. Norges Bank purchased a new stake in SEI Investments in the fourth quarter valued at approximately $53,548,000. Clark Capital Management Group Inc. raised its position in SEI Investments by 2,333.2% in the fourth quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock valued at $52,973,000 after purchasing an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new stake in SEI Investments in the fourth quarter valued at approximately $43,186,000. Qube Research & Technologies Ltd raised its position in SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after purchasing an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec raised its position in SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after purchasing an additional 317,703 shares during the period. 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.