SEI Investments (NASDAQ:SEIC) Given New $75.00 Price Target at Morgan Stanley

SEI Investments (NASDAQ:SEIC) had its price target upped by stock analysts at Morgan Stanley from $70.00 to $75.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 1.12% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Price Performance

NASDAQ SEIC traded up $3.47 on Thursday, reaching $74.17. The company had a trading volume of 1,008,298 shares, compared to its average volume of 576,531. The firm has a market capitalization of $9.63 billion, a PE ratio of 19.42, a P/E/G ratio of 1.39 and a beta of 0.99. SEI Investments has a 1 year low of $52.19 and a 1 year high of $75.97. The firm has a 50-day moving average of $68.63 and a 200-day moving average of $67.32.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share 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 analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, sell-side analysts expect that SEI Investments will post 4.25 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the sale, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the sale, the chairman now directly owns 7,649,577 shares in the company, valued at $516,193,455.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,582 shares of company stock valued at $8,942,405 over the last three months. Company insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several large investors have recently added to or reduced their stakes in SEIC. SG Americas Securities LLC bought a new stake in shares of SEI Investments during the second quarter valued at about $1,434,000. Mediolanum International Funds Ltd acquired a new position in SEI Investments during the first quarter worth about $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SEI Investments by 20.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after acquiring an additional 10,670 shares during the period. Russell Investments Group Ltd. grew its holdings in SEI Investments by 21.7% during the first quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock worth $8,296,000 after acquiring an additional 20,533 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in SEI Investments during the first quarter worth about $14,172,000. 70.59% of the stock is owned by institutional investors and hedge funds.

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.