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

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

Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and cut their price objective for the stock from $81.00 to $77.00 in a report on Monday, April 7th. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Piper Sandler dropped their target price on SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.80.

SEI Investments Price Performance

NASDAQ SEIC traded up $0.23 during trading on Wednesday, reaching $71.66. The company's stock had a trading volume of 649,938 shares, compared to its average volume of 651,035. The stock has a market capitalization of $9.10 billion, a PE ratio of 16.21, a P/E/G ratio of 1.41 and a beta of 0.90. The firm has a fifty day moving average of $76.04 and a 200 day moving average of $78.89. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following 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 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Company insiders own 14.30% of the company's stock.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently made changes to their positions in the business. CoreFirst Bank & Trust purchased a new stake in SEI Investments in the fourth quarter worth $31,000. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 158 shares during the period. Versant Capital Management Inc boosted its stake in shares of SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of 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 buying an additional 117 shares during the period. Finally, Rialto Wealth Management LLC bought a new position in SEI Investments in the fourth quarter worth about $55,000. 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.