Raymond James Upgrades SEI Investments (NASDAQ:SEIC) to Outperform

SEI Investments (NASDAQ:SEIC) was upgraded by equities researchers at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Thursday,Finviz reports. The firm currently has a $99.00 price objective on the asset manager’s stock. Raymond James’ price objective would indicate a potential upside of 19.33% from the stock’s current price.

A number of other equities research analysts have also weighed in on SEIC. Morgan Stanley lifted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Piper Sandler lifted their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average price target of $89.20.

SEI Investments Stock Down 1.7 %

NASDAQ SEIC opened at $82.96 on Thursday. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.44 and a beta of 0.98. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a fifty day moving average of $82.94 and a two-hundred day moving average of $74.60.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. Equities research analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has approved a stock buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Peterson sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock valued at $15,769,472 over the last quarter. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

A number of large investors have recently modified their holdings of the business. Mackenzie Financial Corp lifted its position in SEI Investments by 29.4% during the 2nd quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock worth $766,000 after acquiring an additional 2,689 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the period. Sanctuary Advisors LLC purchased a new stake in SEI Investments in the second quarter valued at approximately $2,775,000. JLB & Associates Inc. increased its holdings in SEI Investments by 1.0% in the 3rd quarter. JLB & Associates Inc. now owns 288,524 shares of the asset manager’s stock worth $19,963,000 after buying an additional 2,722 shares during the period. Finally, Handelsbanken Fonder AB lifted its stake in SEI Investments by 8.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,900 shares of the asset manager’s stock valued at $1,861,000 after acquiring an additional 2,100 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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.