Oppenheimer Boosts SEI Investments (NASDAQ:SEIC) Price Target to $96.00

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price target hoisted by Oppenheimer from $87.00 to $96.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the asset manager's stock. Oppenheimer's price objective indicates a potential upside of 7.25% from the company's current price.

Other analysts have also issued reports about the stock. Morgan Stanley reiterated an "overweight" rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a research report on Thursday. Piper Sandler lifted their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price 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. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.60.

SEI Investments Stock Down 0.1%

SEIC stock traded down $0.05 during trading on Monday, reaching $89.51. 127,071 shares of the company's stock were exchanged, compared to its average volume of 735,267. SEI Investments has a 1-year low of $62.38 and a 1-year high of $90.52. The firm has a market cap of $11.14 billion, a PE ratio of 19.46, a P/E/G ratio of 1.59 and a beta of 0.91. The company's fifty day moving average price is $82.71 and its 200-day moving average price is $80.59.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider now owns 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the transaction, the chief executive officer now owns 171,260 shares of the company's stock, valued at $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,126 shares of company stock valued at $19,638,659. 14.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. King Luther Capital Management Corp purchased a new position in SEI Investments during the fourth quarter valued at $2,645,000. Farther Finance Advisors LLC lifted its stake in SEI Investments by 104.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares during the period. Boston Trust Walden Corp increased its position in SEI Investments by 1.5% during the first 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 during the last quarter. New York Life Investment Management LLC bought a new position in SEI Investments in the 4th quarter worth $863,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of SEI Investments by 4.1% during 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 buying an additional 46,425 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other 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.

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