Analysts Set SEI Investments (NASDAQ:SEIC) Target Price at $89.20

SEI Investments (NASDAQ:SEIC) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $90.00.

A number of research analysts recently weighed in on SEIC shares. Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Oppenheimer upped their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Morgan Stanley upped their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd.

SEI Investments Trading Up 0.2 %

SEIC stock opened at $86.30 on Thursday. The firm has a market capitalization of $11.12 billion, a PE ratio of 19.52, a PEG ratio of 1.48 and a beta of 0.98. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The business’s 50 day simple moving average is $83.40 and its 200 day simple moving average is $75.24.

SEI Investments (NASDAQ:SEIC) last posted its earnings results 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%. As a group, sell-side analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio is 22.17%.

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

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 171,194 shares of company stock valued at $14,579,872. 14.30% of the stock is owned by corporate insiders.

Institutional Trading of SEI Investments

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. Allworth Financial LP boosted its stake in 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. Point72 DIFC Ltd acquired a new stake in SEI Investments in the third quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after buying an additional 168 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

About SEI Investments

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.