SEI Investments (NASDAQ:SEIC) Downgraded by Zacks Research to Hold

Key Points

• SEI Investments' rating was downgraded from a "strong-buy" to a "hold" by Zacks Research, indicating a shift in market sentiment regarding the stock’s performance.
• Analyst ratings vary, with some lifting their target prices for SEI Investments while others have reduced them, resulting in a consensus rating of "hold" and a price target of $102.00.
• Insider activity has been notable, with CEO Ryan Hicke selling 35,000 shares, indicating a significant decrease in his ownership stake in the company.

Zacks Research lowered shares of SEI Investments (NASDAQ:SEIC - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

SEIC has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Piper Sandler decreased their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Raymond James Financial increased their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised 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 Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $102.00.

SEI Investments Stock Down 2.3%

NASDAQ:SEIC traded down $2.05 on Monday, reaching $87.17. The company's stock had a trading volume of 783,453 shares, compared to its average volume of 553,340. SEI Investments has a 12-month low of $64.66 and a 12-month high of $93.96. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The stock has a 50 day moving average price of $89.77 and a 200 day moving average price of $82.86.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.60. The firm had revenue of $559.60 million for the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. Equities research analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at SEI Investments

In other news, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the sale, the chief executive officer owned 171,260 shares in the company, valued at $15,122,258. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. 14.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SEIC. CoreFirst Bank & Trust bought a new stake in SEI Investments in the second quarter valued at about $34,000. Addison Advisors LLC increased its holdings in SEI Investments by 117.6% in the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager's stock valued at $41,000 after buying an additional 247 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc increased its holdings 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 buying an additional 331 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in SEI Investments in the second quarter valued at about $45,000. 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.