SEI Investments Company (NASDAQ:SEIC) Receives $104.40 Consensus PT from Analysts

Shares of SEI Investments Company (NASDAQ:SEIC) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $104.40.

SEIC has been the topic of a number of research analyst reports. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Raymond James Financial lifted their target price on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Morgan Stanley boosted their target price on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Keefe, Bruyette & Woods dropped their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th.

SEI Investments Stock Down 1.2%

SEI Investments stock opened at $81.99 on Friday. The stock has a market cap of $10.04 billion, a PE ratio of 15.07 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The stock’s fifty day moving average is $81.57 and its two-hundred day moving average is $85.63. SEI Investments has a 1-year low of $64.66 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.19 EPS. On average, sell-side analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director owned 16,042 shares in the company, valued at $1,386,189.22. This represents a 38.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at $561,465,206.44. The trade was a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,770 shares of company stock valued at $3,723,850 in the last ninety days. 14.30% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of SEI Investments by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock valued at $955,461,000 after purchasing an additional 30,970 shares during the last quarter. Loomis Sayles & Co. L P grew its position in SEI Investments by 1.4% in the 2nd quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock valued at $794,475,000 after buying an additional 121,198 shares during the last quarter. Bank of America Corp DE increased its stake in SEI Investments by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after buying an additional 133,057 shares during the period. Dimensional Fund Advisors LP raised its position in SEI Investments by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after buying an additional 31,953 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of SEI Investments by 4.1% in the 3rd quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock worth $146,920,000 after acquiring an additional 68,873 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.