SEI Investments (NASDAQ:SEIC) Stock Price Breaks Below 50 Day Moving Average - Here's Why

Key Points

• SEI Investments shares fell below their 50-day moving average, trading as low as $104.80 and last quoted at $105.46, versus a 50-day average of $105.82.
• The company beat quarterly expectations, reporting EPS of $1.64 versus $1.58 consensus and revenue of $662.04 million; revenue rose 14.4% year over year.
• Analysts’ average rating is Buy, with a consensus price target of $125.50. Recent ratings included upgrades and price-target increases, though one firm downgraded the shares to Hold.

SEI Investments Company (NASDAQ:SEIC - Get Free Report) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $105.82 and traded as low as $104.80. SEI Investments shares last traded at $105.46, with a volume of 774,446 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SEIC. William Blair raised SEI Investments from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $129.00 price target (up from $127.00) on shares of SEI Investments in a report on Thursday, October 22nd. Zacks Research downgraded SEI Investments from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 21st. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company began coverage on SEI Investments in a report on Friday, October 2nd. They set an "overweight" rating and a $129.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, SEI Investments has an average rating of "Buy" and a consensus target price of $125.50.

SEI Investments Trading Down 0.4%

The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 4.23. The business's 50 day simple moving average is $105.82 and its 200 day simple moving average is $93.07. The stock has a market cap of $12.51 billion, a P/E ratio of 18.34 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.06. The firm had revenue of $662.04 million during the quarter, compared to analyst estimates of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. On average, analysts expect that SEI Investments Company will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Lane sold 2,400 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $102.78, for a total transaction of $246,672.00. Following the transaction, the executive vice president owned 39,581 shares of the company's stock, valued at $4,068,135.18. This represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 37,500 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total transaction of $4,151,625.00. Following the transaction, the chief executive officer owned 192,815 shares in the company, valued at approximately $21,346,548.65. The trade was a 16.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 73,777 shares of company stock valued at $7,899,863. 4.80% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its holdings in SEI Investments by 95.1% during the third quarter. Fortitude Family Office LLC now owns 240 shares of the asset manager's stock worth $25,000 after buying an additional 117 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager's stock valued at $27,000 after buying an additional 152 shares during the last quarter. Latitude Advisors LLC acquired a new position in shares of SEI Investments during the third quarter valued at about $33,000. Root Financial Partners LLC grew its holdings in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after buying an additional 141 shares during the last quarter. Finally, Provenance Wealth Advisors LLC bought a new stake in shares of SEI Investments during the third quarter worth about $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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