SEI Investments (NASDAQ:SEIC) Stock Dropped to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded SEI Investments from “buy” to “hold,” although the broader analyst consensus remains “Buy,” with an average price target of $125.50.
• SEI Investments exceeded quarterly expectations, reporting $1.64 in earnings per share versus the $1.58 consensus estimate and $662.04 million in revenue. Revenue increased 14.4% year over year.
• SEIC shares opened at $103.42, while insiders sold 113,777 shares worth approximately $12.1 million during the latest quarter; institutional investors own 70.59% of the company.

SEI Investments (NASDAQ:SEIC - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

SEIC has been the subject of several other reports. Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Friday, August 21st. Weiss Ratings upgraded SEI Investments from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday. William Blair upgraded SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Finally, Raymond James Financial upped their target price on SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $125.50.

SEI Investments Trading Down 1.3%

Shares of SEI Investments stock opened at $103.42 on Friday. The firm has a market capitalization of $12.26 billion, a PE ratio of 17.99 and a beta of 0.97. The company has a current ratio of 4.31, a quick ratio of 4.23 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $105.99 and its 200 day moving average is $92.87. SEI Investments has a 1 year low of $75.08 and a 1 year high of $112.15.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 EPS for the quarter, beating the consensus estimate of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The business had revenue of $662.04 million during the quarter, compared to the consensus estimate of $656.25 million. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm's revenue was up 14.4% compared to the same quarter last year. Equities research analysts forecast that SEI Investments will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Lane sold 2,400 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the completion of the transaction, the executive vice president directly owned 39,581 shares in the company, valued at approximately $4,068,135.18. This represents a 5.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 37,500 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the transaction, the chief executive officer directly owned 192,815 shares of the company's stock, valued at $21,346,548.65. The trade was a 16.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 113,777 shares of company stock worth $12,088,683 over the last quarter. Insiders own 4.80% of the company's stock.

Institutional Trading of SEI Investments

Several institutional investors have recently modified their holdings of SEIC. Provenance Wealth Advisors LLC bought a new stake in SEI Investments in the third quarter worth approximately $53,000. Oregon Public Employees Retirement Fund grew its stake in SEI Investments by 14.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,586 shares of the asset manager's stock valued at $2,216,000 after acquiring an additional 2,700 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in SEI Investments in the third quarter valued at approximately $5,654,000. Profund Advisors LLC bought a new stake in shares of SEI Investments during the third quarter valued at approximately $219,000. Finally, Vise Technologies Inc. increased its holdings in shares of SEI Investments by 41.2% during the third quarter. Vise Technologies Inc. now owns 8,221 shares of the asset manager's stock valued at $844,000 after acquiring an additional 2,397 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI's offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.

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