SEI Investments Company (NASDAQ:SEIC) Stock Now Rated "Buy" by Sell-Side Brokerages

Key Points

• SEI Investments has a consensus “Buy” rating among nine analysts, with seven buys, one hold, and one strong buy. The average 12-month price target is $125.50, with recent targets ranging from $127 to $129.
• The company exceeded quarterly expectations, reporting $1.64 in EPS versus the $1.58 consensus and revenue of $662.04 million. Revenue increased 14.4% year over year, while net margin reached 28.06%.
• SEIC opened at $105.89 and has a market capitalization of approximately $12.56 billion. Insiders sold 78,820 shares worth about $8.43 million during the last quarter, while institutional investors own 70.59% of outstanding shares.

Shares of SEI Investments Company (NASDAQ:SEIC - Get Free Report) have earned a consensus rating of "Buy" from the nine research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $125.50.

SEIC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of SEI Investments from $125.00 to $127.00 and gave the company an "overweight" rating in a research note on Thursday, October 22nd. Zacks Research cut shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Wall Street Zen lowered shares of SEI Investments from a "buy" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company started coverage on shares of SEI Investments in a research note on Friday, October 2nd. They set an "overweight" rating and a $129.00 price target for the company. Finally, William Blair upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 15th.

SEI Investments Stock Performance

SEIC opened at $105.89 on Tuesday. The stock's 50 day simple moving average is $105.92 and its 200-day simple moving average is $92.97. 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 stock has a market cap of $12.56 billion, a PE ratio of 18.42 and a beta of 0.97. 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 earnings results on Wednesday, October 21st. The asset manager reported $1.64 EPS for the quarter, topping the consensus estimate of $1.58 by $0.06. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The firm had revenue of $662.04 million during the quarter, compared to analysts' expectations of $656.25 million. During the same period last year, the business earned $1.30 earnings per share. SEI Investments's quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts forecast that SEI Investments will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 28,394 shares of the business's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $103.40, for a total value of $2,935,939.60. Following the sale, the chairman owned 6,790,057 shares of the company's stock, valued at $702,091,893.80. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the completion of the sale, the chief executive officer owned 192,815 shares in the company, valued at $21,346,548.65. This trade represents a 16.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 78,820 shares of company stock valued at $8,431,899. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

A number of institutional investors have recently bought and sold shares of SEIC. Fortitude Family Office LLC increased its stake in shares of SEI Investments by 95.1% during the 3rd quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager's stock worth $25,000 after purchasing an additional 117 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock valued at $27,000 after purchasing an additional 152 shares during the last quarter. Latitude Advisors LLC bought a new position in SEI Investments during the third quarter worth about $33,000. Root Financial Partners LLC grew its holdings in 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 during the period. Finally, Provenance Wealth Advisors LLC acquired a new position in SEI Investments during the third quarter worth approximately $53,000. Institutional investors and hedge funds 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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