SEI Investments (NASDAQ:SEIC) Downgraded to "Hold" Rating by StockNews.com

SEI Investments (NASDAQ:SEIC - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.

A number of other equities research analysts have also weighed in on the company. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods raised their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $87.60.

SEI Investments Stock Down 0.1 %

NASDAQ:SEIC opened at $78.24 on Friday. The firm has a 50 day moving average of $74.98 and a 200 day moving average of $79.13. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the prior year, the business posted $0.99 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a share buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 over the last ninety days. Company insiders own 14.30% of the company's stock.

Hedge Funds Weigh In On SEI Investments

A number of hedge funds have recently bought and sold shares of SEIC. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments in the fourth quarter valued at approximately $31,000. Allworth Financial LP increased its holdings in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc raised its position in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $55,000. Hedge funds and other institutional investors 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.

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