SEI Investments (NASDAQ:SEIC) Given New $114.00 Price Target at Piper Sandler

SEI Investments (NASDAQ:SEIC) had its target price hoisted by equities research analysts at Piper Sandler from $105.00 to $114.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price target indicates a potential upside of 19.43% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Morgan Stanley lifted their target price on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Raymond James Financial lifted their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.20.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $95.45 on Monday. The business has a 50 day moving average price of $90.34 and a 200 day moving average price of $85.18. The company has a market capitalization of $11.48 billion, a P/E ratio of 16.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. SEI Investments has a 1 year low of $75.08 and a 1 year high of $96.60.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. During the same period in the prior year, the business earned $1.17 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments will post 5.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other SEI Investments news, insider Philip Mccabe sold 15,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the transaction, the insider owned 54,884 shares in the company, valued at $5,039,448.88. The trade was a 21.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the sale, the insider owned 39,829 shares of the company’s stock, valued at $3,589,389.48. This represents a 38.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 111,332 shares of company stock valued at $9,908,883. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of SEI Investments

A number of hedge funds have recently made changes to their positions in the stock. Elevation Wealth Partners LLC raised its holdings in SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 152 shares in the last quarter. Community Bank N.A. acquired a new position in SEI Investments during the 3rd quarter worth $35,000. Allworth Financial LP increased its position in shares of SEI Investments by 44.0% in the 3rd 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 last quarter. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in shares of SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.