Oppenheimer Increases SEI Investments (NASDAQ:SEIC) Price Target to $85.00

SEI Investments (NASDAQ:SEIC) had its price target lifted by Oppenheimer from $81.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Oppenheimer’s price objective would suggest a potential upside of 13.18% from the stock’s previous close.

Several other brokerages have also commented on SEIC. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler upped their target price on SEI Investments from $71.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

SEI Investments Price Performance

SEI Investments stock opened at $75.10 on Thursday. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The firm has a 50-day moving average of $68.94 and a two-hundred day moving average of $67.40. SEI Investments has a 1 year low of $52.19 and a 1 year high of $75.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Research analysts expect that SEI Investments will post 4.25 earnings per share for the current 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 stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. 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 at this link. Also, 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 transaction 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 approximately $516,193,455.96. This represents a 0.00 % decrease in their position. 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.

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently made changes to their positions in the company. First Trust Direct Indexing L.P. increased its holdings in shares of SEI Investments by 21.3% in the third quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager’s stock valued at $459,000 after purchasing an additional 1,165 shares during the period. Baker Tilly Wealth Management LLC boosted its position in SEI Investments by 22.5% in the third quarter. Baker Tilly Wealth Management LLC now owns 5,537 shares of the asset manager’s stock valued at $383,000 after buying an additional 1,016 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in SEI Investments by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 199,610 shares of the asset manager’s stock worth $13,811,000 after buying an additional 775 shares during the period. Mediolanum International Funds Ltd raised its position in SEI Investments by 3.1% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,659 shares of the asset manager’s stock worth $1,429,000 after buying an additional 625 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in SEI Investments by 6,818.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock valued at $177,000 after acquiring an additional 2,523 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Company Profile

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.