SEI Investments (NASDAQ:SEIC) Sets New 12-Month High – Here’s What Happened

SEI Investments (NASDAQ:SEIC) shares reached a new 52-week high on Monday . The company traded as high as $83.15 and last traded at $82.57, with a volume of 10614 shares. The stock had previously closed at $82.63.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SEIC. Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Oppenheimer upped their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Down 0.3 %

The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.55 and a beta of 0.98. The stock’s 50-day simple moving average is $75.40 and its 200 day simple moving average is $69.63.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm posted $0.87 EPS. As a group, equities research analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments announced that its board has authorized a share repurchase program on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 over the last 90 days. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Geode Capital Management LLC raised its stake in SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after buying an additional 300,704 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after acquiring an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in SEI Investments in the second quarter valued at about $7,787,000. Finally, Verition Fund Management LLC increased its holdings in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after acquiring an additional 107,222 shares in the last quarter. 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.