Brokerages Set SEI Investments Company (NASDAQ:SEIC) Price Target at $96.00

SEI Investments Company (NASDAQ:SEIC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $96.00.

A number of research firms recently commented on SEIC. Piper Sandler boosted their target price on shares of SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th.

SEI Investments Stock Performance

Shares of SEIC stock traded up $1.20 during midday trading on Wednesday, reaching $93.49. 254,724 shares of the company were exchanged, compared to its average volume of 749,634. SEI Investments has a 12 month low of $62.38 and a 12 month high of $93.82. The company has a market cap of $11.64 billion, a P/E ratio of 20.30, a PEG ratio of 1.55 and a beta of 0.92. The company's 50 day moving average price is $86.61 and its two-hundred day moving average price is $81.40.

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

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.10%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's payout ratio is currently 21.30%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the transaction, the chairman directly owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the transaction, the executive vice president owned 13,500 shares in the company, valued at $1,137,645. The trade was a 78.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,126 shares of company stock valued at $19,638,659. 14.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in SEI Investments during the 4th quarter worth about $993,000. HighTower Advisors LLC raised its position in shares of SEI Investments by 5.2% in the 4th quarter. HighTower Advisors LLC now owns 11,513 shares of the asset manager's stock valued at $950,000 after acquiring an additional 574 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after acquiring an additional 172 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of SEI Investments by 29.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,119 shares of the asset manager's stock valued at $917,000 after acquiring an additional 2,542 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of SEI Investments by 0.9% in the 4th quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager's stock valued at $1,424,000 after acquiring an additional 158 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

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.