SEI Investments (NASDAQ:SEIC) Given New $77.00 Price Target at Oppenheimer

SEI Investments (NASDAQ:SEIC) had its price objective raised by Oppenheimer from $73.00 to $77.00 in a research note published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the asset manager’s stock.

Several other brokerages have also recently issued reports on SEIC. StockNews.com raised shares of SEI Investments from a hold rating to a buy rating in a report on Saturday, March 2nd. Piper Sandler lifted their target price on shares of SEI Investments from $58.00 to $66.00 and gave the stock a neutral rating in a research report on Wednesday, December 20th. Finally, Morgan Stanley increased their target price on SEI Investments from $60.00 to $61.00 and gave the company an underweight rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $68.00.

SEI Investments Stock Up 0.2 %

Shares of NASDAQ:SEIC traded up $0.11 during trading on Friday, hitting $68.74. The stock had a trading volume of 412,079 shares, compared to its average volume of 586,809. The company has a market capitalization of $9.03 billion, a PE ratio of 19.91, a PEG ratio of 1.44 and a beta of 1.01. The firm’s fifty day moving average is $65.95 and its 200 day moving average is $61.62. SEI Investments has a 12 month low of $52.19 and a 12 month high of $69.94.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.91. The company had revenue of $484.86 million during the quarter, compared to analysts’ expectations of $481.39 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. During the same period last year, the company posted $0.83 EPS. Equities research analysts expect that SEI Investments will post 3.99 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Friday, December 15th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the asset manager to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other news, EVP Wayne Withrow sold 16,970 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the transaction, the executive vice president now owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the sale, the executive vice president now owns 55,399 shares in the company, valued at approximately $3,665,197.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $67.31, for a total value of $201,930.00. Following the transaction, the insider now owns 1,300 shares of the company’s stock, valued at approximately $87,503. The disclosure for this sale can be found here. Insiders have sold a total of 34,970 shares of company stock valued at $2,332,665 over the last ninety days. 15.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. DHJJ Financial Advisors Ltd. bought a new position in SEI Investments during the third quarter valued at $27,000. VisionPoint Advisory Group LLC raised its position in SEI Investments by 67.1% during the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of SEI Investments by 6,277.8% in the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 565 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of SEI Investments in the 3rd quarter worth approximately $37,000. Finally, Vestor Capital LLC bought a new position in shares of SEI Investments during the 2nd quarter valued at approximately $45,000. 69.64% of the stock is currently owned by institutional investors.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.