SEI Investments (NASDAQ:SEIC) Price Target Increased to $80.00 by Analysts at Oppenheimer

SEI Investments (NASDAQ:SEIC - Get Free Report) had its target price raised by research analysts at Oppenheimer from $77.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Oppenheimer's price target points to a potential upside of 12.83% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, March 2nd. Piper Sandler raised their price objective on SEI Investments from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments currently has an average rating of "Hold" and an average price target of $68.75.

SEI Investments Stock Up 0.4 %

Shares of NASDAQ SEIC traded up $0.28 during trading hours on Tuesday, hitting $70.90. The company had a trading volume of 434,692 shares, compared to its average volume of 576,038. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The firm's 50 day moving average is $68.32 and its 200-day moving average is $62.75. The stock has a market capitalization of $9.31 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.91. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The firm had revenue of $484.86 million for the quarter, compared to analyst estimates of $481.39 million. During the same period in the prior year, the firm posted $0.83 earnings per share. On average, sell-side analysts predict that SEI Investments will post 4.04 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock buyback plan on Friday, December 15th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Paul Klauder sold 2,000 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $69.80, for a total value of $139,600.00. Following the transaction, the executive vice president now owns 20,752 shares of the company's stock, valued at $1,448,489.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the transaction, the executive vice president now owns 55,399 shares in the company, valued at approximately $3,665,197.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Klauder sold 2,000 shares of SEI Investments stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $69.80, for a total transaction of $139,600.00. Following the completion of the sale, the executive vice president now owns 20,752 shares of the company's stock, valued at $1,448,489.60. The disclosure for this sale can be found here. Insiders sold 206,333 shares of company stock worth $14,481,612 over the last three months. Insiders own 15.50% of the company's stock.

Institutional Investors Weigh In On SEI Investments

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in SEI Investments by 17.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,015 shares of the asset manager's stock valued at $65,000 after buying an additional 150 shares during the period. Baird Financial Group Inc. increased its stake in SEI Investments by 1.1% in the third quarter. Baird Financial Group Inc. now owns 15,900 shares of the asset manager's stock valued at $780,000 after acquiring an additional 172 shares during the last quarter. Gould Capital LLC raised its position in SEI Investments by 1.3% during the third quarter. Gould Capital LLC now owns 14,744 shares of the asset manager's stock valued at $872,000 after purchasing an additional 195 shares in the last quarter. VisionPoint Advisory Group LLC raised its position in SEI Investments by 67.1% during the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager's stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. Finally, Gries Financial LLC lifted its stake in SEI Investments by 0.5% during the second quarter. Gries Financial LLC now owns 41,718 shares of the asset manager's stock worth $2,487,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds 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.