SEI Investments (NASDAQ:SEIC) Price Target Raised to $94.00

SEI Investments (NASDAQ:SEIC) had its price target upped by Oppenheimer from $85.00 to $94.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

A number of other analysts have also recently issued reports on SEIC. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Morgan Stanley boosted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Finally, Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus target price of $86.75.

SEI Investments Stock Performance

Shares of SEIC stock opened at $81.48 on Tuesday. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a one year low of $62.34 and a one year high of $87.25. The company has a 50 day moving average price of $82.02 and a 200 day moving average price of $72.85.

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

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the business’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 transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

A number of institutional investors have recently made changes to their positions in SEIC. FMR LLC increased its stake in shares of 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 buying an additional 632,024 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of SEI Investments during the second quarter worth about $7,787,000. Finally, Verition Fund Management LLC grew its stake in 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 purchasing an additional 107,222 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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.