SEI Investments' (SEIC) Buy (B) Rating Reaffirmed at Weiss Ratings

Key Points

• SEI Investments' stock has been reaffirmed with a "buy (B)" rating by Weiss Ratings, indicating strong analyst support for the stock.
• Recent target price adjustments have seen Raymond James and Morgan Stanley raise their targets for SEI Investments to $118.00 and $115.00, respectively, reflecting positive market sentiment.
• The company reported earnings of $1.78 per share for the last quarter, significantly exceeding expectations and showing a year-over-year revenue increase of 7.8%.

SEI Investments (NASDAQ:SEIC - Get Free Report)'s stock had its "buy (b)" rating reissued by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer raised their target price on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Piper Sandler decreased their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of "Moderate Buy" and an average target price of $105.00.

SEI Investments Stock Performance

SEIC opened at $84.60 on Wednesday. The company's 50 day simple moving average is $87.28 and its 200 day simple moving average is $84.26. SEI Investments has a 1 year low of $64.66 and a 1 year high of $93.96. The stock has a market capitalization of $10.46 billion, a PE ratio of 15.87, a P/E/G ratio of 1.28 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. During the same period last year, the company earned $1.05 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at SEI Investments

In other news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the sale, the director owned 16,042 shares in the company, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $5,254,950. 14.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

A number of hedge funds have recently made changes to their positions in the company. Marshall Financial Group LLC raised its stake in shares of SEI Investments by 4.8% during the third quarter. Marshall Financial Group LLC now owns 11,699 shares of the asset manager's stock valued at $993,000 after purchasing an additional 536 shares during the period. Cooper Financial Group purchased a new stake in shares of SEI Investments during the third quarter valued at approximately $210,000. Thrive Wealth Management LLC raised its stake in shares of SEI Investments by 104.2% during the third quarter. Thrive Wealth Management LLC now owns 79,296 shares of the asset manager's stock valued at $6,728,000 after purchasing an additional 40,463 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the third quarter valued at approximately $339,000. Finally, GAMMA Investing LLC raised its stake in shares of SEI Investments by 5.5% during the third quarter. GAMMA Investing LLC now owns 7,096 shares of the asset manager's stock valued at $602,000 after purchasing an additional 367 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Company Profile

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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