Raymond James Upgrades SEI Investments (NASDAQ:SEIC) to Outperform

SEI Investments (NASDAQ:SEIC) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a $99.00 price objective on the asset manager’s stock. Raymond James’ target price indicates a potential upside of 14.35% from the stock’s current price.

SEIC has been the topic of several other research reports. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods boosted 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 note on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, SEI Investments has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Stock Up 0.6 %

Shares of NASDAQ SEIC opened at $86.58 on Thursday. The firm has a market cap of $11.16 billion, a P/E ratio of 19.59, a PEG ratio of 1.41 and a beta of 0.98. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a 50 day moving average of $83.17 and a 200 day moving average of $74.81.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.41% and a net margin of 27.35%. As a group, equities analysts expect that SEI Investments will post 4.89 earnings per share for the current fiscal year.

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

Insider Activity

In other SEI Investments news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $514,410. This trade represents a 60.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,194 shares of company stock valued at $15,769,472 in the last 90 days. Company insiders own 14.30% of the company’s stock.

Institutional Trading of SEI Investments

Several institutional investors and hedge funds have recently modified their holdings of SEIC. Aurora Investment Counsel raised its holdings in SEI Investments by 0.6% during the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of SEI Investments by 7.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock worth $174,000 after acquiring an additional 144 shares during the period. Principal Securities Inc. grew its position in shares of SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares in the last quarter. Allworth Financial LP raised its stake in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 158 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in SEI Investments by 16.3% in the 2nd 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 currently owned by institutional investors.

SEI Investments Company Profile

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.