SEI Investments (NASDAQ:SEIC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price target lifted by analysts at Morgan Stanley from $82.00 to $84.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the asset manager's stock. Morgan Stanley's target price indicates a potential downside of 1.36% from the company's current price.

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

SEI Investments Price Performance

Shares of SEIC stock traded up $0.19 during trading on Tuesday, reaching $85.16. The company had a trading volume of 1,154,337 shares, compared to its average volume of 718,909. The company has a market capitalization of $10.60 billion, a PE ratio of 19.27, a PEG ratio of 1.41 and a beta of 0.90. The firm's 50 day simple moving average is $78.21 and its two-hundred day simple moving average is $80.31. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction 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 directly owns 171,260 shares of the company's stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock valued at $19,638,659 in the last ninety days. Corporate insiders own 14.60% of the company's stock.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently bought and sold shares of the stock. Tokio Marine Asset Management Co. Ltd. purchased a new position in SEI Investments in the fourth quarter valued at approximately $205,000. Alliance Wealth Advisors LLC UT acquired a new position in SEI Investments during the fourth quarter worth approximately $216,000. abrdn plc increased its position in SEI Investments by 11.9% during the fourth quarter. abrdn plc now owns 3,382 shares of the asset manager's stock worth $279,000 after buying an additional 359 shares during the period. Longboard Asset Management LP purchased a new stake in SEI Investments in the fourth quarter valued at approximately $267,000. Finally, Leo Wealth LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $229,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

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.