Brokerages Set SEI Investments (NASDAQ:SEIC) Price Target at $87.60

SEI Investments (NASDAQ:SEIC - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $87.60.

Several equities research analysts have recently weighed in on the company. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Finally, StockNews.com cut SEI Investments from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd.

SEI Investments Price Performance

Shares of SEI Investments stock traded up $0.45 during trading on Friday, hitting $80.30. 75,133 shares of the stock were exchanged, compared to its average volume of 654,226. The firm's 50-day moving average price is $75.01 and its 200 day moving average price is $79.32. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $556.76 million. During the same period in the prior year, the company posted $0.99 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

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

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,214 shares of company stock worth $6,293,903. Company insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SEIC. King Luther Capital Management Corp acquired a new stake in shares of SEI Investments during the fourth quarter valued at $2,645,000. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after buying an additional 20,020 shares during the last quarter. Longboard Asset Management LP purchased a new stake in SEI Investments in the 4th quarter worth approximately $267,000. New York Life Investment Management LLC purchased a new position in shares of SEI Investments during the 4th quarter worth $863,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of SEI Investments in the fourth quarter valued at $1,818,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

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.