SEI Investments Company (NASDAQ:SEIC) Receives Consensus Recommendation of “Moderate Buy” from Analysts
by Danessa Lincoln · The Markets DailyShares of SEI Investments Company (NASDAQ:SEIC – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $109.6667.
A number of brokerages recently issued reports on SEIC. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. UBS Group started coverage on SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a research report on Monday, January 5th. Piper Sandler reiterated an “overweight” rating and issued a $106.00 target price on shares of SEI Investments in a report on Friday, February 20th. Finally, Morgan Stanley increased their price target on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th.
Read Our Latest Report on SEIC
Insider Buying and Selling
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 transaction of $590,249.22. Following the transaction, the chairman directly owned 6,875,783 shares in the company, valued at $544,974,560.58. This represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. This trade represents a 28.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 146,447 shares of company stock valued at $12,318,659 over the last three months. 14.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On SEI Investments
Several institutional investors have recently bought and sold shares of SEIC. Root Financial Partners LLC purchased a new stake in SEI Investments during the third quarter worth $28,000. SJS Investment Consulting Inc. increased its holdings in shares of SEI Investments by 142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 210 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments in the 2nd quarter valued at $34,000. Community Bank N.A. bought a new position in shares of SEI Investments in the 3rd quarter worth $35,000. Finally, Allworth Financial LP lifted its stake in shares of SEI Investments by 44.0% during 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. 70.59% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Stock Performance
Shares of SEIC opened at $75.72 on Monday. SEI Investments has a 1-year low of $64.66 and a 1-year high of $93.96. The company has a 50-day moving average of $81.68 and a 200 day moving average of $82.75. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 13.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20.
SEI Investments (NASDAQ:SEIC – Get Free Report) last issued its earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The company had revenue of $607.93 million during the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.SEI Investments’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 earnings per share. On average, research analysts expect that SEI Investments will post 4.86 EPS for the current year.
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.