SEI Investments Company (SEIC) Earns Buy Rating from Mizuho
Mizuho reissued their buy rating on shares of SEI Investments Company (NASDAQ:SEIC) in a research report released on Friday morning. The firm currently has a $72.00 price objective on the asset manager’s stock.
Several other brokerages also recently issued reports on SEIC. Zacks Investment Research upgraded SEI Investments from a hold rating to a buy rating and set a $72.00 price objective on the stock in a research report on Monday, October 30th. Oppenheimer Holdings, Inc. upped their price objective on SEI Investments from $60.00 to $67.00 and gave the company an outperform rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods restated a hold rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, BidaskClub downgraded SEI Investments from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $67.25.
Shares of SEI Investments (NASDAQ:SEIC) opened at $67.10 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. SEI Investments has a 12-month low of $46.20 and a 12-month high of $67.15. The stock has a market capitalization of $10,566.45, a price-to-earnings ratio of 29.17, a PEG ratio of 2.38 and a beta of 1.38.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million for the quarter, compared to the consensus estimate of $384.43 million. During the same period in the prior year, the business earned $0.53 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. sell-side analysts anticipate that SEI Investments will post 2.35 EPS for the current fiscal year.
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SEI Investments declared that its board has approved a stock buyback plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In related news, Director Sarah Blumenstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total value of $326,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Doran sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the transaction, the director now owns 671,015 shares of the company’s stock, valued at $38,576,652.35. The disclosure for this sale can be found here. Insiders sold 162,500 shares of company stock valued at $10,098,900 over the last quarter. Insiders own 16.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SEI Investments by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock valued at $21,339,000 after purchasing an additional 6,325 shares during the last quarter. Victory Capital Management Inc. increased its stake in SEI Investments by 21.3% during the second quarter. Victory Capital Management Inc. now owns 27,382 shares of the asset manager’s stock worth $1,473,000 after acquiring an additional 4,808 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in SEI Investments during the second quarter worth about $208,000. Aviva PLC increased its stake in SEI Investments by 5.6% during the second quarter. Aviva PLC now owns 78,736 shares of the asset manager’s stock worth $4,235,000 after acquiring an additional 4,190 shares during the last quarter. Finally, American Capital Management Inc. increased its stake in SEI Investments by 0.5% during the third quarter. American Capital Management Inc. now owns 849,780 shares of the asset manager’s stock worth $51,888,000 after acquiring an additional 4,620 shares during the last quarter. Hedge funds and other institutional investors own 69.17% of the company’s stock.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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