Piper Sandler Cuts SEI Investments (NASDAQ:SEIC) Price Target to $99.00

SEI Investments (NASDAQ:SEIC) had its price target decreased by Piper Sandler from $106.00 to $99.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price objective would indicate a potential upside of 30.56% from the stock’s current price.

A number of other brokerages have also weighed in on SEIC. Morgan Stanley cut their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Raymond James Financial restated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. UBS Group began coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $0.14 on Tuesday, reaching $75.83. 452,404 shares of the company’s stock were exchanged, compared to its average volume of 769,006. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 13.46 and a beta of 0.94. SEI Investments has a 52 week low of $65.49 and a 52 week high of $93.96. The stock has a fifty day simple moving average of $80.71 and a 200-day simple moving average of $82.35.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $607.93 million for 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 for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the sale, the chairman directly owned 6,883,230 shares of the company’s stock, valued at $552,241,542.90. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total transaction of $326,960.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at $75,282.54. This represents a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 146,447 shares of company stock worth $12,318,659. 14.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors and hedge funds have recently bought and sold shares of SEIC. Root Financial Partners LLC purchased a new stake in SEI Investments in the third quarter valued at approximately $28,000. SJS Investment Consulting Inc. raised its stake in SEI Investments by 142.9% in the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in SEI Investments in the second quarter valued at approximately $34,000. Community Bank N.A. purchased a new stake in SEI Investments in the third quarter valued at approximately $35,000. Finally, Allworth Financial LP raised its stake in SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Company Profile

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.