SEI Investments (NASDAQ:SEIC) Given New $118.00 Price Target at Raymond James Financial

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price target raised by equities research analysts at Raymond James Financial from $115.00 to $118.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Raymond James Financial's price objective points to a potential upside of 33.05% from the stock's current price.

Other research analysts have also issued research reports about the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler reduced their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research note on Thursday. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Stock Down 1.4%

NASDAQ:SEIC traded down $1.29 during mid-day trading on Thursday, reaching $88.69. 1,245,580 shares of the company were exchanged, compared to its average volume of 858,407. SEI Investments has a 12 month low of $62.38 and a 12 month high of $93.96. The company has a fifty day moving average of $87.35 and a 200 day moving average of $81.66. The stock has a market cap of $11.04 billion, a PE ratio of 19.28, a PEG ratio of 1.54 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the prior year, the firm earned $1.05 EPS. The company's revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

Insider Activity

In related news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the sale, the insider directly owned 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the sale, the chief executive officer owned 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,126 shares of company stock valued at $19,638,659. Insiders own 14.60% of the company's stock.

Institutional Trading of SEI Investments

Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in SEI Investments by 59.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock worth $974,000 after buying an additional 4,701 shares during the period. Janney Montgomery Scott LLC acquired a new stake in SEI Investments during the 1st quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC raised its holdings in SEI Investments by 41.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock worth $1,654,000 after buying an additional 6,261 shares during the period. Boston Trust Walden Corp raised its holdings in SEI Investments by 1.5% during the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock worth $102,897,000 after buying an additional 19,150 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in SEI Investments by 104.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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