SEI Investments (NASDAQ:SEIC) PT Set at $84.00 by Morgan Stanley

SEI Investments (NASDAQ:SEIC - Get Free Report) received a $84.00 target price from stock analysts at Morgan Stanley in a report issued on Tuesday, Marketbeat reports. The firm presently has an "overweight" rating on the asset manager's stock. Morgan Stanley's price objective indicates a potential downside of 1.91% from the company's current price.

A number of other research analysts also recently issued reports on SEIC. Piper Sandler boosted their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

SEI Investments Price Performance

NASDAQ:SEIC traded up $0.43 during mid-day trading on Tuesday, reaching $85.64. 776,687 shares of the company's stock traded hands, compared to its average volume of 722,111. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.41 and a beta of 0.91. The company has a 50 day moving average price of $78.69 and a 200-day moving average price of $80.42.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. During the same quarter in the previous year, the business earned $0.99 EPS. SEI Investments's revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has authorized a stock repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the sale, the chief executive officer now owns 171,260 shares in the company, valued at $14,276,233.60. This represents a 10.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider now owns 23,895 shares in the company, valued at $1,992,843. The trade was a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock worth $19,638,659 in the last 90 days. Insiders own 14.60% of the company's stock.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after acquiring an additional 60,307 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in SEI Investments by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock valued at $134,487,000 after acquiring an additional 111,065 shares in the last quarter. Boston Trust Walden Corp lifted its position in SEI Investments by 1.5% in the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after acquiring an additional 19,150 shares in the last quarter. FMR LLC lifted its position in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after acquiring an additional 348,112 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

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.