Morgan Stanley Cuts SEI Investments (NASDAQ:SEIC) Price Target to $108.00
by Tristan Rich · The Markets DailySEI Investments (NASDAQ:SEIC – Free Report) had its price target reduced by Morgan Stanley from $119.00 to $108.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.
Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. Piper Sandler reissued an “overweight” rating and set a $106.00 price target on shares of SEI Investments in a report on Friday, February 20th. UBS Group began coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price target for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.17.
Read Our Latest Analysis on SEI Investments
SEI Investments Price Performance
Shares of NASDAQ SEIC opened at $77.01 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $80.90 and a 200-day simple moving average of $82.45. SEI Investments has a 52 week low of $64.66 and a 52 week high of $93.96. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 13.68 and a beta of 0.94.
SEI Investments (NASDAQ:SEIC – Get Free Report) last posted its earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.04). The company had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $1.19 earnings per share. On average, equities analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.
Insider Buying and Selling at SEI Investments
In other SEI Investments news, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the transaction, the chief executive officer owned 197,164 shares in the company, valued at approximately $17,224,247.04. The trade was a 28.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the transaction, the insider directly owned 921 shares of the company’s stock, valued at approximately $75,282.54. The trade was a 81.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,447 shares of company stock valued at $12,318,659 in the last quarter. Corporate insiders own 14.60% of the company’s stock.
Hedge Funds Weigh In On SEI Investments
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new stake in shares of SEI Investments during the 3rd quarter worth about $28,000. SJS Investment Consulting Inc. increased its stake in shares of SEI Investments by 142.9% during the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 210 shares during the period. CoreFirst Bank & Trust bought a new stake in SEI Investments during the second quarter worth approximately $34,000. Community Bank N.A. bought a new stake in SEI Investments during the third quarter worth approximately $35,000. Finally, Allworth Financial LP lifted its position in SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after purchasing an additional 132 shares during the period. Institutional investors own 70.59% of the company’s stock.
SEI Investments Company Profile
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.