SEI Investments (NASDAQ:SEIC) Price Target Cut to $81.00 by Analysts at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its price target reduced by stock analysts at Morgan Stanley from $84.00 to $81.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would suggest a potential upside of 4.94% from the company’s current price.

SEIC has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, SEI Investments has an average rating of “Hold” and an average price target of $90.20.

SEI Investments Stock Down 0.1 %

Shares of NASDAQ:SEIC traded down $0.09 during midday trading on Wednesday, reaching $77.19. 213,467 shares of the company were exchanged, compared to its average volume of 681,727. The firm has a market cap of $9.80 billion, a PE ratio of 17.46, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The stock has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $78.67.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has initiated a share buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after buying an additional 117 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of SEI Investments by 7.3% during the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after acquiring an additional 144 shares in the last quarter. Ashton Thomas Securities LLC increased its stake in SEI Investments by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after acquiring an additional 145 shares during the last quarter. Principal Securities Inc. raised its position in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock valued at $109,000 after purchasing an additional 155 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the last quarter. 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.