SEI Investments (NASDAQ:SEIC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

SEI Investments (NASDAQ:SEIC - Get Free Report) had its price target boosted by research analysts at Raymond James Financial from $115.00 to $118.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the asset manager's stock. Raymond James Financial's target price indicates a potential upside of 32.96% from the stock's previous close.

SEIC has been the subject of several other reports. Piper Sandler cut their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer increased their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Price Performance

NASDAQ:SEIC traded down $1.24 during trading hours on Thursday, hitting $88.75. The stock had a trading volume of 978,713 shares, compared to its average volume of 872,179. The company has a 50 day simple moving average of $87.68 and a two-hundred day simple moving average of $81.84. SEI Investments has a one year low of $62.38 and a one year high of $93.96. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.46 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced 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. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period last year, the firm earned $1.05 EPS. The business's quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

Insider Buying and Selling at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of the firm's 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 transaction, the insider owned 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was 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. This represents a 78.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,126 shares of company stock valued at $19,638,659. Insiders own 14.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock worth $974,000 after purchasing an additional 4,701 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of SEI Investments during the first quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SEI Investments by 41.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock valued at $1,654,000 after acquiring an additional 6,261 shares in the last quarter. Boston Trust Walden Corp raised its holdings in shares of SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after acquiring an additional 19,150 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares in the last quarter. 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.