SEI Investments Company (NASDAQ:SEIC) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• SEI Investments Company (NASDAQ:SEIC) has received an average recommendation of "Hold" from seven analysts, with a consensus 12-month price target of $102.00.
• In its recent earnings report, SEI Investments surpassed analysts' estimates, reporting $1.78 earnings per share (EPS) and revenues of $559.60 million, reflecting a year-over-year revenue increase of 7.8%.
• Recent insider trading included CEO Ryan Hicke selling 35,000 shares at an average price of $88.30, reducing his ownership by 16.97%.

Shares of SEI Investments Company (NASDAQ:SEIC - Get Free Report) have received an average recommendation of "Hold" from the seven research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $102.00.

SEIC has been the topic of several analyst reports. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer increased their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Piper Sandler decreased their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Zacks Research downgraded shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th.

Insider Activity

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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 modified their holdings of SEIC. Loomis Sayles & Co. L P raised its stake in SEI Investments by 1.4% during the second quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager's stock worth $794,475,000 after purchasing an additional 121,198 shares during the period. Bank of America Corp DE raised its stake in SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock worth $284,015,000 after purchasing an additional 133,057 shares during the period. Dimensional Fund Advisors LP raised its stake in SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager's stock worth $134,487,000 after purchasing an additional 111,065 shares during the period. First Trust Advisors LP raised its stake in SEI Investments by 9.1% during the second quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager's stock worth $155,218,000 after purchasing an additional 144,789 shares during the period. Finally, Boston Trust Walden Corp raised its stake in SEI Investments by 3.3% during the second quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager's stock worth $123,079,000 after purchasing an additional 44,195 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 2.3%

Shares of NASDAQ:SEIC traded down $2.05 during midday trading on Thursday, reaching $87.17. The company's stock had a trading volume of 783,453 shares, compared to its average volume of 553,340. The firm has a market capitalization of $10.78 billion, a PE ratio of 16.35, a P/E/G ratio of 1.35 and a beta of 0.98. SEI Investments has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a fifty day moving average of $89.77 and a 200 day moving average of $82.86.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. The company had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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.