SEI Investments (NASDAQ:SEIC) Price Target Raised to $117.00

SEI Investments (NASDAQ:SEIC) had its price target upped by Morgan Stanley from $115.00 to $117.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the asset manager’s stock.

Several other equities analysts also recently commented on SEIC. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a research note on Monday. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $93.00 to $102.00 in a report on Tuesday, December 23rd. Finally, Keefe, Bruyette & Woods upgraded SEI Investments from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $93.00 to $97.00 in a research note on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

SEI Investments Trading Down 0.3%

SEI Investments stock opened at $87.25 on Tuesday. The stock has a 50-day simple moving average of $82.48 and a 200 day simple moving average of $85.68. The stock has a market capitalization of $10.68 billion, a P/E ratio of 16.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments has a 52 week low of $64.66 and a 52 week high of $93.96.

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

SEI Investments declared that its board has approved a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the asset manager to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

SEI Investments Announces Dividend

The firm also recently declared 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 is Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is presently 19.12%.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares in the company, 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 legal filing with the SEC, which is available at this link. 14.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently made changes to their positions in SEIC. Norges Bank bought a new position in SEI Investments in the 2nd quarter valued at approximately $55,685,000. Jupiter Asset Management Ltd. acquired a new position in shares of SEI Investments during the second quarter worth $37,490,000. Azora Capital LP boosted its holdings in shares of SEI Investments by 109.3% during the 2nd quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock valued at $69,907,000 after acquiring an additional 406,287 shares in the last quarter. Qube Research & Technologies Ltd grew its position in SEI Investments by 82.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after acquiring an additional 346,696 shares during the last quarter. Finally, Caisse de depot et placement du Quebec increased its holdings in SEI Investments by 31.0% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock worth $114,018,000 after purchasing an additional 317,703 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

About SEI Investments

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.