Piper Sandler Issues Pessimistic Forecast for SEI Investments (NASDAQ:SEIC) Stock Price

SEI Investments (NASDAQ:SEIC) had its price objective lowered by Piper Sandler from $87.00 to $74.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Piper Sandler’s target price indicates a potential upside of 1.33% from the company’s current price.

Other analysts have also issued reports about the stock. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley raised SEI Investments from an “underweight” rating to an “overweight” rating and cut their target price for the stock from $81.00 to $77.00 in a research report on Monday. Oppenheimer upped their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.

SEI Investments Stock Up 9.9 %

SEI Investments stock opened at $73.03 on Tuesday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The firm has a market cap of $9.27 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The company’s 50 day moving average is $77.88 and its two-hundred day moving average is $78.67.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) 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 25.51%. On average, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SEIC. Geode Capital Management LLC boosted its position in shares of SEI Investments by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock worth $212,589,000 after purchasing an additional 60,307 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the period. FMR LLC boosted its holdings in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp grew its position in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after buying an additional 46,425 shares during the period. Finally, Northern Trust Corp increased its holdings in SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock valued at $88,104,000 after buying an additional 184,339 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Company Profile

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.