Keefe, Bruyette & Woods Issues Positive Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC) had its price objective lifted by Keefe, Bruyette & Woods from $76.00 to $86.00 in a research report released on Friday morning,Benzinga reports. They currently have a market perform rating on the asset manager’s stock.

Other equities analysts also recently issued research reports about the stock. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Morgan Stanley increased their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Oppenheimer raised their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average target price of $80.75.

SEI Investments Stock Performance

Shares of SEIC opened at $82.75 on Friday. SEI Investments has a 52-week low of $61.58 and a 52-week high of $87.25. The firm has a market cap of $10.67 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.62 and a beta of 0.98. The business’s fifty day moving average is $79.20 and its 200-day moving average is $71.08.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, 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 repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be given a $0.49 dividend. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s dividend payout ratio is 23.67%.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of SEI Investments stock in a transaction on Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the sale, the chairman now directly owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock valued at $19,753,402 over the last 90 days. 14.30% of the stock is owned by insiders.

Hedge Funds Weigh In On SEI Investments

A number of large investors have recently modified their holdings of the company. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments in the second quarter valued at $30,000. First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments during the 3rd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

About SEI Investments

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.