SEI Investments (NASDAQ:SEIC) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of SEI Investments (NASDAQ:SEIC) from an underweight rating to an overweight rating in a research report sent to investors on Monday, Marketbeat Ratings reports. Morgan Stanley currently has $77.00 target price on the asset manager’s stock, down from their previous target price of $81.00.

SEIC has been the topic of a number of other research reports. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. Oppenheimer raised their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Piper Sandler upped their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.80.

SEI Investments Stock Performance

Shares of SEIC opened at $73.03 on Monday. The business’s 50-day moving average is $77.88 and its two-hundred day moving average is $78.67. The company has a market capitalization of $9.27 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the transaction, the chairman now owns 7,160,080 shares of the company’s stock, valued at $568,868,356. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SEI Investments

Several institutional investors have recently modified their holdings of the business. CoreFirst Bank & Trust acquired a new position in SEI Investments during the 4th quarter worth $31,000. Allworth Financial LP raised its holdings in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc grew its holdings in SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock worth $42,000 after acquiring an additional 331 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of SEI Investments in the 3rd quarter valued at $45,000. Finally, First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.