Morgan Stanley Boosts SEI Investments (NASDAQ:SEIC) Price Target to $75.00

SEI Investments (NASDAQ:SEIC) had its price objective boosted by Morgan Stanley from $70.00 to $75.00 in a research report report published on Thursday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Several other analysts also recently weighed in on the company. Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.50.

SEI Investments Price Performance

SEIC stock opened at $75.10 on Thursday. SEI Investments has a 12 month low of $52.19 and a 12 month high of $75.97. The firm’s 50-day moving average is $68.94 and its 200 day moving average is $67.36. The company has a market capitalization of $9.87 billion, a PE ratio of 20.52, a P/E/G ratio of 1.39 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Sell-side analysts forecast that SEI Investments will post 4.25 EPS for the current fiscal year.

SEI Investments announced that its board has approved a share buyback plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 27,419 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now directly owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,582 shares of company stock worth $8,942,405 over the last three months. Corporate insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in SEI Investments during the second quarter valued at $1,434,000. Mediolanum International Funds Ltd acquired a new stake in shares of SEI Investments during the 1st quarter valued at about $1,443,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of SEI Investments by 20.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock valued at $4,495,000 after acquiring an additional 10,670 shares during the period. Russell Investments Group Ltd. increased its stake in shares of SEI Investments by 21.7% in the 1st quarter. Russell Investments Group Ltd. now owns 115,367 shares of the asset manager’s stock valued at $8,296,000 after purchasing an additional 20,533 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in SEI Investments in the 1st quarter worth about $14,172,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.