Analysts Set SEI Investments Company (NASDAQ:SEIC) Price Target at $106.80

by · The Cerbat Gem

SEI Investments Company (NASDAQ:SEICGet Free Report) has been given a consensus rating of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $107.80.

SEIC has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $93.00 to $102.00 in a report on Tuesday, December 23rd. Morgan Stanley increased their price objective on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th.

Get Our Latest Analysis on SEIC

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the sale, the chairman directly owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. The trade was a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SEIC. Farther Finance Advisors LLC increased its holdings in shares of SEI Investments by 33.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,780 shares of the asset manager’s stock worth $160,000 after purchasing an additional 446 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of SEI Investments by 114.3% during the second quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock valued at $1,916,000 after buying an additional 11,373 shares during the last quarter. Norges Bank bought a new stake in SEI Investments in the 2nd quarter worth about $55,685,000. 111 Capital purchased a new position in SEI Investments in the 2nd quarter worth about $941,000. Finally, iSAM Funds UK Ltd bought a new position in SEI Investments during the 2nd quarter valued at about $1,804,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 0.6%

Shares of NASDAQ SEIC opened at $86.77 on Wednesday. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $82.60 and a 200-day moving average of $85.69. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 15.95 and a beta of 0.97. SEI Investments has a 12 month low of $64.66 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEICGet Free Report) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period last year, the firm posted $1.19 earnings per share. SEI Investments’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a stock buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio is 19.12%.

SEI Investments Company Profile

(Get Free Report)

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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