Keefe, Bruyette & Woods lowers SEI Investments (NASDAQ:SEIC) price target to $55.00

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SEI Investments (NASDAQ:SEIC – Get a rating) saw its target price lowered by Keefe, Bruyette & Woods from $62.00 to $55.00 in a research note released Thursday to investors, reports The Fly. Keefe, Bruyette & Woods’ price target indicates a potential upside of 3.79% from the stock’s previous close.

A number of other research firms have also weighed in on SEIC recently. Goldman Sachs Group downgraded SEI Investments from a ‘buy’ to a ‘neutral’ rating and lowered its price target for the stock from $67.00 to $65.00 in a Monday research report March 28. StockNews.com launched coverage on SEI Investments in a research report on Thursday, March 31. They set a “buy” rating for the company. Finally, Morgan Stanley upgraded SEI Investments from an “equal weight” rating to an “underweight” rating in a research report on Tuesday. One investment analyst gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat, SEI Investments has an average rating of “Hold” and a consensus target price of $62.40.

SEI Stock investments up 2.8%

NASDAQ SEIC shares opened at $52.99 on Thursday. The stock has a market capitalization of $7.27 billion, a PE ratio of 12.35, a growth price-earnings ratio of 1.18 and a beta of 1.03. The company has a quick ratio of 5.08, a current ratio of 5.19 and a leverage ratio of 0.02. SEI Investments has a 52-week low of $51.07 and a 52-week high of $65.22. The company has a 50-day moving average price of $54.89 and a 200-day moving average price of $57.65.

SEI Investments (NASDAQ:SEIC – Get Rating) last announced its results on Wednesday, April 20. The asset manager reported earnings per share (EPS) of $1.36 for the quarter, meeting analyst consensus estimates of $1.36. The company posted revenue of $581.44 million in the quarter, compared to $560.41 million expected by analysts. SEI Investments achieved a return on equity of 32.49% and a net margin of 29.72%. The company’s revenue increased 27.6% year over year. During the same period of the previous year, the company achieved EPS of $0.89. Equity research analysts expect SEI Investments to post earnings per share of 3.77 for the current year.

SEI Investments said its board of directors authorized a stock repurchase plan on Wednesday, June 1 that allows the company to repurchase $200.00 million in stock. This redemption authorization allows the asset manager to acquire up to 2.5% of its shares through purchases on the open market. Stock buyback plans are often a sign that the company’s board of directors thinks its stock is undervalued.

Hedge funds weigh on SEI’s investments

Several hedge funds have recently bought and sold shares of the company. Congress Asset Management Co. MA increased its stake in SEI Investments by 4.6% in Q1. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager valued at $268,000 after buying 194 more shares last quarter. Valley National Advisers Inc. increased its stake in SEI Investments by 1.0% in Q2. Valley National Advisers Inc. now owns 19,014 shares of the asset manager valued at $1,037,000 after buying 196 additional shares last quarter. Profund Advisors LLC increased its stake in SEI Investments by 3.8% in Q1. Profund Advisors LLC now owns 5,637 shares of the asset manager valued at $339,000 after buying 207 additional shares in the last quarter. Signaturefd LLC increased its stake in SEI Investments by 34.4% in the 4th quarter. Signaturefd LLC now owns 851 shares of the asset manager worth $52,000 after buying 218 additional shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in SEI Investments by 18.0% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,480 shares of the asset manager valued at $90,000 after buying 226 additional shares last quarter. 70.44% of the shares are held by hedge funds and other institutional investors.

Company Profile SEI Investments

(Get a rating)

SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions , financial services and investment advice.

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