SEI Investments (NASDAQ:SEIC) Price Target Increased to $74.00 by Analysts at Piper Sandler

by · The Markets Daily

SEI Investments (NASDAQ:SEIC – Free Report) had its price target raised by Piper Sandler from $71.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other research firms have also recently weighed in on SEIC. Keefe, Bruyette & Woods reissued a market perform rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Oppenheimer raised their target price on shares of SEI Investments from $80.00 to $81.00 and gave the stock an outperform rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $72.25.

Get Our Latest Stock Analysis on SEIC

SEI Investments Stock Performance

Shares of SEIC stock opened at $70.10 on Wednesday. The firm’s 50-day moving average is $67.44 and its 200-day moving average is $67.27. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.40 and a beta of 0.99. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54.

SEI Investments (NASDAQ:SEIC – Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The firm had revenue of $518.99 million for the quarter, compared to analysts’ expectations of $523.80 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. Sell-side analysts predict that SEI Investments will post 4.23 EPS for the current fiscal year.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the transaction, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,582 shares of company stock valued at $8,942,405. 14.30% of the stock is currently owned by company insiders.

Institutional Trading of SEI Investments

Hedge funds have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the second quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after buying an additional 275 shares in the last quarter. Bessemer Group Inc. boosted its position in SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after buying an additional 386 shares in the last quarter. Finally, Mather Group LLC. boosted its position in SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

About SEI Investments

(Get Free Report)

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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