Brokerages Set SEI Investments Company (NASDAQ:SEIC) Price Target at $109.67

Shares of SEI Investments Company (NASDAQ:SEIC) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $109.6667.

SEIC has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Piper Sandler reissued an “overweight” rating and set a $106.00 target price on shares of SEI Investments in a research note on Friday, February 20th. UBS Group assumed coverage on SEI Investments in a research note on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price objective on shares of SEI Investments in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd.

SEI Investments Trading Down 1.5%

Shares of SEIC stock opened at $77.20 on Monday. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $9.44 billion, a P/E ratio of 13.71 and a beta of 0.96. The business’s 50 day moving average is $82.08 and its two-hundred day moving average is $82.93. SEI Investments has a twelve month low of $64.66 and a twelve month high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.04). The firm had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.19 EPS. Equities analysts forecast that SEI Investments will post 4.86 EPS for the current year.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,447 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the transaction, the chairman directly owned 6,875,783 shares of the company’s stock, valued at approximately $544,974,560.58. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following the sale, the insider owned 921 shares of the company’s stock, valued at approximately $75,282.54. The trade was a 81.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 146,447 shares of company stock worth $12,318,659 over the last 90 days. Company insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC raised its holdings in SEI Investments by 185.4% during the fourth quarter. Hsbc Holdings PLC now owns 180,716 shares of the asset manager’s stock worth $14,895,000 after purchasing an additional 117,400 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of SEI Investments by 25.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 150,008 shares of the asset manager’s stock valued at $12,304,000 after buying an additional 30,122 shares in the last quarter. World Investment Advisors acquired a new position in shares of SEI Investments during the 4th quarter worth $277,000. SHP Wealth Management acquired a new position in shares of SEI Investments during the 4th quarter worth $372,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of SEI Investments in the 4th quarter worth about $102,000. 70.59% of the stock is owned by hedge funds and other 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.