SEI Investments (NASDAQ:SEIC) Price Target Raised to $113.00 at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) had its price target raised by equities researchers at Keefe, Bruyette & Woods from $107.00 to $113.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 19.29% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial boosted their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley upped their price objective on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.40.

SEI Investments Trading Up 0.2%

SEI Investments stock opened at $94.73 on Friday. The stock has a 50-day moving average price of $90.25 and a 200 day moving average price of $85.10. SEI Investments has a 52 week low of $75.08 and a 52 week high of $96.60. The stock has a market cap of $11.39 billion, a PE ratio of 16.17 and a beta of 0.97. 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 results 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. The company had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $1.17 EPS. Equities research analysts predict that SEI Investments will post 5.9 earnings per share for the current fiscal year.

Insider Activity at SEI Investments

In related news, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the sale, the director directly owned 77,883 shares of the company’s stock, valued at approximately $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,332 shares of company stock valued at $9,908,883 over the last quarter. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently modified their holdings of SEIC. Elevation Wealth Partners LLC boosted its holdings in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares during the period. Community Bank N.A. acquired a new stake in SEI Investments in the third quarter valued at approximately $35,000. Allworth Financial LP raised its stake in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Finally, Root Financial Partners LLC lifted its position in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Company Profile

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.