SEI Investments (NASDAQ:SEIC) Price Target Cut to $93.00 by Analysts at Piper Sandler

SEI Investments (NASDAQ:SEIC - Get Free Report) had its target price dropped by stock analysts at Piper Sandler from $96.00 to $93.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the asset manager's stock. Piper Sandler's price target points to a potential upside of 5.48% from the company's current price.

Other equities research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price objective 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. Morgan Stanley restated an "overweight" rating and set 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. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.40.

SEI Investments Trading Down 2.0%

NASDAQ:SEIC traded down $1.81 during trading hours on Thursday, reaching $88.17. The company had a trading volume of 987,789 shares, compared to its average volume of 856,997. The firm's 50 day moving average price is $87.35 and its 200-day moving average price is $81.66. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.54 and a beta of 0.92. SEI Investments has a 52 week low of $62.38 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The business had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period in the previous year, the company posted $1.05 EPS. The business's quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the transaction, the executive vice president owned 13,500 shares of the company's stock, valued at $1,137,645. This trade represents a 78.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently modified their holdings of the business. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments in the 4th quarter valued at $31,000. Geneos Wealth Management Inc. lifted its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Versant Capital Management Inc boosted its stake in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in SEI Investments in the second quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of SEI Investments by 252.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager's stock worth $46,000 after purchasing an additional 363 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.

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