SEI Investments (NASDAQ:SEIC) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

SEI Investments (NASDAQ:SEIC) had its price target raised by Keefe, Bruyette & Woods from $76.00 to $86.00 in a research report sent to investors on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager’s stock.

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

SEI Investments Price Performance

SEIC opened at $82.75 on Friday. The stock’s 50 day simple moving average is $79.45 and its 200 day simple moving average is $71.22. The stock has a market cap of $10.67 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 1-year low of $61.58 and a 1-year high of $87.25.

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

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 paid a dividend of $0.49 per share. This represents a dividend yield of 1.1%. The ex-dividend date is Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is currently 23.67%.

SEI Investments announced 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 shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now owns 7,284,964 shares of the company’s stock, valued at $624,539,963.72. This represents a 1.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Peterson sold 25,000 shares of the firm’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 transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SEIC. FMR LLC increased its stake in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the period. Dimensional Fund Advisors LP increased its position in SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in SEI Investments in the second quarter valued at approximately $7,787,000. Finally, Verition Fund Management LLC lifted its position in SEI Investments by 2,766.3% during the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after buying an additional 107,222 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other 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.