SEI Investments (NASDAQ:SEIC) Upgraded at UBS Group

SEI Investments (NASDAQ:SEIC) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Morgan Stanley lifted their target price on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler increased their price target on SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.

SEI Investments Trading Down 1.8%

NASDAQ:SEIC opened at $84.41 on Wednesday. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 14.99 and a beta of 0.95. 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 business has a fifty day moving average price of $84.42 and a 200-day moving average price of $84.95. SEI Investments has a one year low of $64.66 and a one year high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The business had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has approved a stock repurchase plan on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 80,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 14.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SEIC. Arizona State Retirement System increased its position in SEI Investments by 0.4% in the third quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock worth $2,656,000 after purchasing an additional 129 shares during the last quarter. Allworth Financial LP grew its stake in shares of SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares in the last quarter. Ethic Inc. grew its stake in shares of SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of SEI Investments by 0.5% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock worth $2,533,000 after buying an additional 153 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of SEI Investments by 10.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock valued at $140,000 after buying an additional 161 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

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.