SEI Investments' (SEIC) "Market Perform" Rating Reiterated at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report released on Thursday,Benzinga reports. They currently have a $98.00 price target on the asset manager's stock, down from their prior price target of $100.00. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 10.75% from the company's previous close.

SEIC has been the subject of a number of other reports. Oppenheimer increased their price target 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. Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.20.

SEI Investments Trading Down 1.7%

Shares of SEIC traded down $1.50 during midday trading on Thursday, hitting $88.49. The stock had a trading volume of 1,059,163 shares, compared to its average volume of 857,662. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $93.96. The business has a 50-day simple moving average of $87.35 and a two-hundred day simple moving average of $81.66. The firm has a market cap of $11.02 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 1.54 and a beta of 0.92.

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

Insider Activity

In other news, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the transaction, the insider owned 23,895 shares of the company's stock, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the transaction, the chairman directly owned 7,003,708 shares in the company, valued at approximately $600,778,072.24. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new stake in SEI Investments during the first quarter worth $51,773,000. Millennium Management LLC raised its holdings in shares of SEI Investments by 339.3% in the first quarter. Millennium Management LLC now owns 783,619 shares of the asset manager's stock valued at $60,832,000 after buying an additional 605,252 shares during the last quarter. Norges Bank bought a new position in shares of SEI Investments in the fourth quarter valued at about $48,009,000. Amundi raised its holdings in shares of SEI Investments by 228.2% in the first quarter. Amundi now owns 782,035 shares of the asset manager's stock valued at $57,472,000 after buying an additional 543,753 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in SEI Investments during the 4th quarter worth about $42,548,000. 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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