SEI Investments (NASDAQ:SEIC) Stock Price Expected to Rise, Raymond James Financial Analyst Says

SEI Investments (NASDAQ:SEIC) had its price target increased by investment analysts at Raymond James Financial from $122.00 to $124.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Raymond James Financial’s price target would indicate a potential upside of 32.43% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Morgan Stanley decreased their price target on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Keefe, Bruyette & Woods raised their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

SEI Investments Stock Up 2.4%

Shares of NASDAQ:SEIC traded up $2.21 on Monday, reaching $93.64. The company had a trading volume of 220,998 shares, compared to its average volume of 798,872. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $11.26 billion, a PE ratio of 15.98 and a beta of 0.97. SEI Investments has a 52-week low of $75.08 and a 52-week high of $93.96. The firm’s 50 day simple moving average is $89.90 and its 200-day simple moving average is $84.77.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same period in the previous year, the company posted $1.17 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, analysts expect that SEI Investments will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 7,332 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $87.39, for a total value of $640,743.48. Following the completion of the sale, the chairman directly owned 6,818,451 shares in the company, valued at approximately $595,864,432.89. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bison Wealth LLC purchased a new position in SEI Investments in the fourth quarter valued at about $207,000. Baird Financial Group Inc. bought a new stake in SEI Investments during the first quarter valued at $201,000. Geneos Wealth Management Inc. lifted its holdings in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. M&T Bank Corp increased its position in SEI Investments by 11.9% in the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock worth $289,000 after buying an additional 341 shares during the period. Finally, CW Advisors LLC acquired a new position in SEI Investments during the 2nd quarter valued at about $280,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Company Profile

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.