Piper Sandler Trims SEI Investments (NASDAQ:SEIC) Target Price to $69.00

SEI Investments (NASDAQ:SEIC) had its target price decreased by Piper Sandler from $72.00 to $69.00 in a research report sent to investors on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer lifted their price objective on SEI Investments from $77.00 to $80.00 and gave the company an outperform rating in a report on Tuesday, April 9th. StockNews.com upgraded SEI Investments from a hold rating to a buy rating in a report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $71.00.

SEI Investments Stock Performance

SEIC traded up $0.40 during midday trading on Thursday, reaching $66.88. 101,697 shares of the company were exchanged, compared to its average volume of 575,163. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock has a market capitalization of $8.80 billion, a P/E ratio of 18.16, a PEG ratio of 1.36 and a beta of 1.02. The stock’s 50-day simple moving average is $68.56 and its 200 day simple moving average is $63.33.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. SEI Investments had a return on equity of 23.40% and a net margin of 24.80%. The business had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. During the same quarter in the previous year, the business posted $0.79 EPS. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 4.08 earnings per share for the current year.

Insider Activity at SEI Investments

In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the transaction, the executive vice president now owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of SEI Investments stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the transaction, the chairman now directly owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wayne Withrow sold 16,970 shares of SEI Investments stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total value of $1,122,735.20. Following the transaction, the executive vice president now owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,333 shares of company stock valued at $14,481,612. 15.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SEIC. Norges Bank bought a new position in shares of SEI Investments during the 4th quarter worth approximately $32,161,000. Invesco Ltd. boosted its stake in SEI Investments by 73.1% in the 3rd quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after purchasing an additional 475,226 shares during the period. Acadian Asset Management LLC boosted its stake in SEI Investments by 299.3% in the 3rd quarter. Acadian Asset Management LLC now owns 477,981 shares of the asset manager’s stock valued at $28,778,000 after purchasing an additional 358,282 shares during the period. Envestnet Asset Management Inc. boosted its stake in SEI Investments by 69.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 381,037 shares of the asset manager’s stock valued at $22,950,000 after purchasing an additional 155,991 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in SEI Investments in the 4th quarter valued at $6,990,000. 70.59% of the stock is currently owned by 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.