SEI Investments (NASDAQ:SEIC) Stock Gets Downgrade from Wall Street Zen

SEI Investments (NASDAQ:SEIC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

SEIC has been the subject of a number of other research reports. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Piper Sandler reiterated an “overweight” rating and issued a $129.00 target price (up from $127.00) on shares of SEI Investments in a research report on Thursday, October 22nd. UBS Group reissued a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Morgan Stanley upped their target price on shares of SEI Investments from $125.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, SEI Investments presently has an average rating of “Buy” and a consensus target price of $125.50.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $103.42 on Friday. The firm’s fifty day moving average is $105.99 and its two-hundred day moving average is $92.87. SEI Investments has a 52-week low of $75.08 and a 52-week high of $112.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.23 and a current ratio of 4.31. The company has a market cap of $12.26 billion, a P/E ratio of 17.99 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 21st. The asset manager reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06. The firm had revenue of $662.04 million for the quarter, compared to the consensus estimate of $656.25 million. SEI Investments had a return on equity of 30.14% and a net margin of 28.06%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. As a group, analysts anticipate that SEI Investments will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Lane sold 2,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $102.78, for a total value of $246,672.00. Following the completion of the sale, the executive vice president directly owned 39,581 shares in the company, valued at approximately $4,068,135.18. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip McCabe sold 5,043 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total value of $532,036.50. Following the sale, the insider owned 54,884 shares of the company’s stock, valued at $5,790,262. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 103,777 shares of company stock worth $11,053,383 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Institutional Trading of SEI Investments

Institutional investors and hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC bought a new position in shares of SEI Investments during the 2nd quarter valued at about $3,958,000. Readystate Asset Management LP acquired a new stake in SEI Investments in the 2nd quarter worth $1,649,000. Oxbow Advisors LLC acquired a new stake in SEI Investments during the first quarter valued at approximately $3,283,000. Lazard Asset Management LLC grew its holdings in SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 17,504 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in SEI Investments in the first quarter valued at about $3,625,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.