Oppenheimer Boosts SEI Investments (NASDAQ:SEIC) Price Target to $94.00

SEI Investments (NASDAQ:SEIC) had its target price raised by Oppenheimer from $85.00 to $94.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price target would indicate a potential upside of 15.37% from the company’s previous close.

A number of other research analysts also recently commented on SEIC. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $86.75.

SEI Investments Stock Performance

SEI Investments stock opened at $81.48 on Tuesday. The company has a 50 day moving average price of $81.89 and a 200-day moving average price of $72.79. The company has a market capitalization of $10.50 billion, a PE ratio of 19.68, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a fifty-two week low of $62.34 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. On average, analysts forecast that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the 2nd quarter worth about $30,000. First Horizon Advisors Inc. increased its holdings in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of SEI Investments in the third quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other 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.