Brokerages Set SEI Investments (SEIC) PT at $66.20

Shares of SEI Investments (NASDAQ:SEIC) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $66.20.

Several brokerages have weighed in on SEIC. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Friday, April 12th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Monday, April 22nd. ValuEngine downgraded SEI Investments from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods downgraded SEI Investments from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $56.00 to $64.00 in a report on Sunday, April 14th. Finally, BidaskClub upgraded SEI Investments from a “strong sell” rating to a “sell” rating in a report on Saturday, March 16th.

SEIC stock opened at $53.17 on Friday. The firm has a market capitalization of $8.18 billion, a P/E ratio of 16.93, a PEG ratio of 1.41 and a beta of 1.24. SEI Investments has a 12-month low of $42.27 and a 12-month high of $69.44.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.03). SEI Investments had a return on equity of 29.76% and a net margin of 29.64%. The company had revenue of $400.82 million for the quarter, compared to analysts’ expectations of $404.82 million. During the same quarter last year, the company earned $0.86 EPS. SEI Investments’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments will post 3.18 earnings per share for the current fiscal year.

In related news, insider Paul Klauder sold 7,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $52.89, for a total value of $396,675.00. Following the completion of the sale, the insider now directly owns 24,841 shares of the company’s stock, valued at approximately $1,313,840.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kathy Heilig sold 16,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.50, for a total value of $824,000.00. Following the completion of the sale, the vice president now directly owns 17,891 shares of the company’s stock, valued at $921,386.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 291,603 shares of company stock worth $15,368,042. Company insiders own 22.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in SEI Investments by 2.0% during the 4th quarter. BlackRock Inc. now owns 14,153,322 shares of the asset manager’s stock worth $653,883,000 after acquiring an additional 282,606 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of SEI Investments by 4,406.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock valued at $70,000 after buying an additional 3,178,224 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SEI Investments by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 1,770,128 shares of the asset manager’s stock valued at $81,741,000 after buying an additional 283,678 shares during the period. Parnassus Investments CA lifted its holdings in shares of SEI Investments by 25.4% in the 1st quarter. Parnassus Investments CA now owns 1,590,474 shares of the asset manager’s stock valued at $83,102,000 after buying an additional 322,254 shares during the period. Finally, Norges Bank acquired a new stake in shares of SEI Investments in the 4th quarter valued at approximately $65,129,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for SEI Investments (NASDAQ:SEIC)

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