SEI Investments (NASDAQ:SEIC) Given Consensus Rating of "Moderate Buy" by Brokerages
SEI Investments (NASDAQ:SEIC) has received a consensus rating of "Moderate Buy" from five research firms. Analysts have set an average price target of $89.40 for the stock. Recent ratings include Oppenheimer raising its target to $94.00 and Piper Sandler to $87.00. The stock is currently trading at $67.85, down 1.7%. SEI reported earnings of $1.19 per share, missing estimates, and announced a $500 million stock repurchase program. Insiders have sold shares recently, and institutional investors have adjusted their positions in the stock.
Shares of SEI Investments (NASDAQ:SEIC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.40.
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Several research analysts have recently issued reports on the company. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Piper Sandler raised their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. StockNews.com downgraded SEI Investments from a "buy" rating to a "hold" rating in a report on Monday. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th.
Get Our Latest Stock Analysis on SEIC
SEI Investments Stock Down 1.7 %
Shares of NASDAQ SEIC traded down $1.17 during midday trading on Monday, reaching $67.85. 1,304,700 shares of the company were exchanged, compared to its average volume of 636,243. The stock's 50-day moving average price is $79.10 and its 200-day moving average price is $78.78. The stock has a market cap of $8.61 billion, a P/E ratio of 15.35, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.
SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.
SEI Investments announced that its board has approved a stock repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares of the company's stock, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock valued at $6,293,903 over the last 90 days. Company insiders own 14.30% of the company's stock.
Hedge Funds Weigh In On SEI Investments
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Venturi Wealth Management LLC grew its position in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC increased its stake in SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock valued at $492,000 after purchasing an additional 145 shares in the last quarter. Principal Securities Inc. raised its holdings in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after buying an additional 155 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after buying an additional 158 shares in the last quarter. Institutional investors own 70.59% of the company's stock.
SEI Investments Company Profile
(Get Free ReportSEI 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.
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