SEI Investments (NASDAQ:SEIC) Upgraded by Raymond James to Outperform Rating

Raymond James upgraded shares of SEI Investments (NASDAQ:SEIC) from a market perform rating to an outperform rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have $99.00 price objective on the asset manager’s stock.

SEIC has been the topic of several other research reports. Oppenheimer lifted their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Finally, Piper Sandler boosted their price objective 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 analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $86.03 on Thursday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The stock has a 50 day moving average price of $83.05 and a two-hundred day moving average price of $74.68. The stock has a market capitalization of $11.09 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.41%. Research analysts forecast that SEI Investments will post 4.89 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a $0.49 dividend. This represents a yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is currently 22.17%.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the sale, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,194 shares of company stock valued at $15,769,472. Corporate insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its holdings in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its position in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments in the 3rd quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $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.