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

Shares of SEI Investments (NASDAQ:SEIC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $82.11 and last traded at $81.72, with a volume of 160826 shares. The stock had previously closed at $81.57.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SEIC shares. Piper Sandler upped their target price on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer upped their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.50.

SEI Investments Price Performance

The company has a 50 day simple moving average of $74.30 and a 200 day simple moving average of $69.23. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97.

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

SEI Investments declared that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, 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 transaction of $398,200.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,500 shares in the company, valued at $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,064 shares of company stock valued at $5,173,529. Company insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Hedge funds have recently made changes to their positions in the company. Aurora Investment Counsel boosted its stake in shares of SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after purchasing an additional 144 shares during the period. IFG Advisory LLC grew its stake in shares of SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after acquiring an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after acquiring an additional 168 shares during the last quarter. Creative Planning increased its position in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after acquiring an additional 182 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock worth $3,507,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other 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.