SEI Investments (NASDAQ:SEIC) Price Target Lowered to $71.00 at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its target price trimmed by Piper Sandler from $72.00 to $71.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the asset manager’s stock.

A number of other analysts have also commented on the stock. Keefe, Bruyette & Woods reissued a market perform rating and issued a $74.00 price objective (up previously from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Oppenheimer boosted their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments has a consensus rating of Hold and a consensus target price of $71.25.

SEI Investments Price Performance

SEIC opened at $66.07 on Thursday. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.32 and a beta of 0.99. The business’s 50-day moving average price is $66.35 and its two-hundred day moving average price is $66.89. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.49% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter last year, the firm earned $0.89 EPS. SEI Investments’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 4.19 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 10th. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.78%. SEI Investments’s dividend payout ratio (DPR) is currently 25.14%.

Insiders Place Their Bets

In other news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total value of $4,803,400.00. Following the completion of the sale, the chairman now owns 7,795,471 shares in the company, valued at approximately $534,925,220.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,000 shares of company stock valued at $8,406,920. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

A number of hedge funds have recently modified their holdings of SEIC. Norges Bank bought a new position in SEI Investments in the 4th quarter valued at about $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of SEI Investments during the first quarter worth approximately $14,172,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in SEI Investments during the 4th quarter worth approximately $6,990,000. Power Corp of Canada bought a new stake in SEI Investments in the 4th quarter valued at $5,649,000. Finally, Bank of Nova Scotia grew its holdings in SEI Investments by 190.9% in the 4th quarter. Bank of Nova Scotia now owns 114,840 shares of the asset manager’s stock valued at $7,298,000 after buying an additional 75,358 shares in the last quarter. Institutional investors and hedge funds 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.