SEI Investments (NASDAQ:SEIC) Price Target Raised to $101.00 at Oppenheimer

SEI Investments (NASDAQ:SEIC - Free Report) had its price target upped by Oppenheimer from $96.00 to $101.00 in a report published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the asset manager's stock.

Several other equities analysts have also recently commented on the company. Morgan Stanley reaffirmed 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. Piper Sandler upped their price objective on SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.00.

SEI Investments Stock Performance

Shares of SEIC traded up $0.18 during trading hours on Tuesday, hitting $92.57. 604,306 shares of the company were exchanged, compared to its average volume of 745,168. SEI Investments has a 52 week low of $62.38 and a 52 week high of $93.75. The company has a market cap of $11.52 billion, a PE ratio of 20.12, a PEG ratio of 1.61 and a beta of 0.92. The firm's 50 day moving average is $85.05 and its 200-day moving average is $81.03.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The business had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same quarter in the previous year, the firm earned $0.99 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.12%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is presently 21.30%.

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

Insider Transactions at SEI Investments

In other news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total value of $4,213,500.00. Following the transaction, the executive vice president directly owned 13,500 shares in the company, valued at $1,137,645. This trade represents a 78.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares in the company, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,126 shares of company stock valued at $19,638,659 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of SEI Investments by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock valued at $55,124,000 after acquiring an additional 3,967 shares during the last quarter. Victory Capital Management Inc. increased its position in SEI Investments by 1.7% during the fourth quarter. Victory Capital Management Inc. now owns 164,048 shares of the asset manager's stock worth $13,531,000 after buying an additional 2,800 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in SEI Investments during the fourth quarter worth approximately $993,000. Raymond James Financial Inc. acquired a new position in SEI Investments during the fourth quarter worth approximately $42,548,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in SEI Investments by 28.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,237 shares of the asset manager's stock worth $2,989,000 after buying an additional 8,032 shares during the last quarter. Institutional investors and hedge funds 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.