SEI Investments (NASDAQ:SEIC – Get Rating) has received a consensus rating of "Hold" from the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $60.50.
A number of analysts recently commented on the company. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a report on Friday, July 22nd. Piper Sandler lowered their target price on SEI Investments to $61.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 27th. William Blair restated a "mkt perform" rating on shares of SEI Investments in a research note on Monday, July 25th. The Goldman Sachs Group lowered their target price on SEI Investments to $58.00 in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their target price on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th.
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Insider Activity at SEI Investments
In related news, insider Dennis Mcgonigle sold 35,000 shares of the business's stock in a transaction on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the sale, the insider now directly owns 576,663 shares in the company, valued at approximately $31,802,964.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Wayne Withrow sold 15,000 shares of the business's stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total transaction of $836,700.00. Following the completion of the transaction, the executive vice president now directly owns 38,799 shares in the company, valued at $2,164,208.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dennis Mcgonigle sold 35,000 shares of the business's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the transaction, the insider now owns 576,663 shares of the company's stock, valued at $31,802,964.45. The disclosure for this sale can be found here. 25.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On SEI Investments
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. Hazlett Burt & Watson Inc. purchased a new position in SEI Investments during the first quarter worth about $36,000. Private Trust Co. NA purchased a new position in shares of SEI Investments in the 2nd quarter worth about $39,000. Artemis Wealth Advisors LLC purchased a new position in shares of SEI Investments in the 1st quarter worth about $40,000. Quadrant Capital Group LLC boosted its holdings in shares of SEI Investments by 104.6% in the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager's stock worth $51,000 after purchasing an additional 431 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of SEI Investments by 114.4% in the 4th quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager's stock worth $53,000 after purchasing an additional 469 shares in the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.
SEI Investments Stock Up 0.8 %
Shares of NASDAQ:SEIC opened at $54.08 on Tuesday. The business's 50 day moving average is $55.23 and its 200 day moving average is $56.18. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.21 and a beta of 0.98. SEI Investments has a 12-month low of $51.07 and a 12-month high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.02). The business had revenue of $481.67 million for the quarter, compared to the consensus estimate of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The business's revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 earnings per share. As a group, equities research analysts expect that SEI Investments will post 3.71 earnings per share for the current year.
SEI Investments announced that its board has initiated a share repurchase plan on Wednesday, June 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
SEI Investments Company Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on SEI Investments (SEIC)
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