SEI Investments Company (NASDAQ:SEIC) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of SEI Investments Company (NASDAQ:SEIC) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $122.60.

A number of research analysts have recently commented on SEIC shares. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. UBS Group reaffirmed a “buy” rating and set a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Piper Sandler increased their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the sale, the chairman owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total value of $2,621,483.28. Following the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 142,332 shares of company stock worth $13,745,813 in the last ninety days. Insiders own 4.80% of the company’s stock.

Institutional Trading of SEI Investments

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi grew its holdings in shares of SEI Investments by 2.4% during the second quarter. Amundi now owns 193,135 shares of the asset manager’s stock worth $16,940,000 after purchasing an additional 4,572 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SEI Investments in the 2nd quarter valued at approximately $596,000. California State Teachers Retirement System raised its holdings in SEI Investments by 8,074.1% in the 2nd quarter. California State Teachers Retirement System now owns 10,288,383 shares of the asset manager’s stock valued at $902,394,000 after buying an additional 10,162,517 shares during the last quarter. Readystate Asset Management LP acquired a new stake in SEI Investments during the 2nd quarter worth approximately $1,649,000. Finally, Wedmont Private Capital acquired a new stake in SEI Investments during the 2nd quarter worth approximately $208,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Price Performance

SEI Investments stock opened at $110.78 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments has a 52 week low of $75.08 and a 52 week high of $111.90. The stock has a market capitalization of $13.30 billion, a P/E ratio of 19.54 and a beta of 0.96. The stock has a fifty day moving average of $99.21 and a 200-day moving average of $89.32.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period last year, the firm posted $1.78 earnings per share. SEI Investments’s revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 6.2 earnings per share for the current fiscal 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.