Raymond James Financial Forecasts Strong Price Appreciation for SEI Investments (NASDAQ:SEIC) Stock

SEI Investments (NASDAQ:SEIC) had its price target hoisted by analysts at Raymond James Financial from $115.00 to $118.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Raymond James Financial’s price target suggests a potential upside of 31.13% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Morgan Stanley reissued an “overweight” rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Oppenheimer increased their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Piper Sandler lowered their price target on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $89.99 on Thursday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $93.96. The company has a market capitalization of $11.20 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. The company has a 50-day simple moving average of $87.68 and a 200 day simple moving average of $81.83.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period last year, the business posted $1.05 EPS. SEI Investments’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

Insider Buying and Selling at SEI Investments

In other news, CEO Ryan Hicke sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the transaction, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the transaction, the chairman directly owned 7,003,708 shares in the company, valued at $600,778,072.24. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock valued at $19,638,659 over the last ninety days. Company insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the fourth quarter worth approximately $31,000. Geneos Wealth Management Inc. increased its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. Versant Capital Management Inc increased its holdings in shares of SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock worth $42,000 after purchasing an additional 331 shares during the period. Harbor Capital Advisors Inc. bought a new position in SEI Investments in the second quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in SEI Investments by 252.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 363 shares during the last quarter. 70.59% of the stock is owned by 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.