Piper Sandler Cuts SEI Investments (NASDAQ:SEIC) Price Target to $69.00

SEI Investments (NASDAQ:SEIC) had its price objective cut by Piper Sandler from $72.00 to $69.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of SEI Investments from a hold rating to a buy rating in a research note on Saturday, March 2nd. Oppenheimer lifted their price target on shares of SEI Investments from $77.00 to $80.00 and gave the company an outperform rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SEI Investments currently has an average rating of Hold and an average price target of $71.00.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $66.57 on Thursday. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The business has a 50 day simple moving average of $68.58 and a two-hundred day simple moving average of $63.49. The firm has a market capitalization of $8.76 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The business had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts expect that SEI Investments will post 4.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the transaction, the chairman now owns 7,884,834 shares of the company’s stock, valued at $557,852,005.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the transaction, the chairman now owns 7,884,834 shares of the company’s stock, valued at $557,852,005.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the transaction, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. Insiders sold 206,333 shares of company stock valued at $14,481,612 over the last 90 days. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Institutional investors and hedge funds have recently bought and sold shares of the company. VisionPoint Advisory Group LLC grew its holdings in SEI Investments by 67.1% in the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in SEI Investments by 6,277.8% in the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after purchasing an additional 565 shares during the last quarter. Evolution Advisers Inc. purchased a new position in SEI Investments in the fourth quarter worth $55,000. Global Retirement Partners LLC grew its holdings in SEI Investments by 32.6% in the first quarter. Global Retirement Partners LLC now owns 948 shares of the asset manager’s stock worth $68,000 after purchasing an additional 233 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in SEI Investments in the fourth quarter worth $61,000. 70.59% of the stock is 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.