SEI Investments (NASDAQ:SEIC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of SEI Investments (NASDAQ:SEIC) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. William Blair raised shares of SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. UBS Group reissued a “buy” rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $129.00 price target (up from $127.00) on shares of SEI Investments in a report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of SEI Investments from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Buy” and a consensus target price of $125.50.

SEI Investments Price Performance

SEI Investments stock opened at $105.89 on Friday. The firm has a market capitalization of $12.56 billion, a P/E ratio of 18.42 and a beta of 0.97. SEI Investments has a 1 year low of $75.08 and a 1 year high of $112.15. The business has a 50-day moving average of $105.92 and a 200-day moving average of $92.97. The company has a current ratio of 4.31, a quick ratio of 4.23 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. SEI Investments had a net margin of 28.06% and a return on equity of 30.14%. The business had revenue of $662.04 million for the quarter, compared to the consensus estimate of $656.25 million. During the same period last year, the company posted $1.30 EPS. SEI Investments’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that SEI Investments will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 28,394 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $103.40, for a total value of $2,935,939.60. Following the completion of the transaction, the chairman directly owned 6,790,057 shares in the company, valued at approximately $702,091,893.80. The trade was a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $110.71, for a total value of $4,151,625.00. Following the sale, the chief executive officer directly owned 192,815 shares of the company’s stock, valued at approximately $21,346,548.65. The trade was a 16.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 78,820 shares of company stock worth $8,431,899. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SEIC. BlackRock Inc. bought a new stake in shares of SEI Investments in the second quarter worth $870,745,000. Bank of America Corp DE acquired a new position in SEI Investments during the second quarter worth $255,067,000. Caisse de depot et placement du Quebec acquired a new position in SEI Investments during the second quarter worth $87,924,000. Bank of New York Mellon Corp acquired a new position in SEI Investments during the second quarter worth $78,430,000. Finally, American Capital Management Inc. bought a new position in SEI Investments in the second quarter valued at $65,372,000. Institutional investors own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.