SEI Investments (NASDAQ:SEIC) Receives Average “Hold” Recommendation from Brokerages

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Shares of SEI Investments (NASDAQ:SEIC – Get Rating) received a consensus rating of “Hold” from the eight rating agencies that cover the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned the company a buy rating. The 12-month average price target among brokers who have covered the stock over the past year is $58.17.

A number of analysts have commented on the company. Piper Sandler cut her price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a Wednesday, July 27 report. Oppenheimer lowered his target price on SEI Investments shares to $57.00 in a research note on Wednesday. Goldman Sachs Group cut its price target on SEI Investments shares to $58.00 in a Friday, July 22 research note. StockNews.com moved shares of SEI Investments from a “buy” rating to a “hold” rating in a Friday, July 22 report. Finally, Morgan Stanley lowered its price target on SEI Investments shares from $52.00 to $51.00 and set an “underweight” rating for the company in a research report Tuesday.

SEI Investments Price Performance

NASDAQ:SEIC shares opened at $48.81 on Friday. The company has a market capitalization of $6.61 billion, a PE ratio of 11.71, a PEG ratio of 1.17 and a beta of 0.98. The company has a fifty-day moving average price of $54.46 and a 200-day moving average price of $55.53. SEI Investments has a 1-year low of $48.54 and a 1-year high of $65.22.

SEI Investments (NASDAQ:SEIC – Get Rating) last released its results on Wednesday, July 20. The asset manager reported earnings per share (EPS) of $0.81 for the quarter, missing the consensus estimate of $0.82 per ($0.01). The company posted revenue of $481.67 million in the quarter, compared to $472.18 million expected by analysts. SEI Investments achieved a return on equity of 30.81% and a net margin of 28.53%. The company’s quarterly revenue increased 1.3% year over year. During the same period last year, the company posted earnings per share of $0.93. On average, sell-side analysts expect SEI Investments to post earnings per share of 3.63 for the current fiscal year.

Insider buying and selling at SEI Investments

Separately, insider Dennis McGonigle sold 35,000 shares of the company in a trade on Friday, July 29. The shares were sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the sale, the insider now owns 576,663 shares of the company, valued at approximately $31,802,964.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news from SEI Investments, Executive Vice President Wayne Withrow sold 15,000 shares of the company in a trade that took place on Tuesday August 9th. The shares were sold at an average price of $55.78, for a total transaction of $836,700.00. Following the sale, the executive vice president now owns 38,799 shares of the company, valued at approximately $2,164,208.22. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, insider Dennis McGonigle sold 35,000 shares of the company in a trade that took place on Friday, July 29. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares of the company, valued at $31,802,964.45. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 133,386 shares of the company valued at $7,359,017. Insiders hold 25.40% of the shares of the company.

Institutional entries and exits

Major investors have recently changed their stake in the company. BlackRock Inc. increased its stake in shares of SEI Investments by 2.3% in the first quarter. BlackRock Inc. now owns 11,645,954 shares of the asset manager worth $701,203,000 after acquiring an additional 260,417 shares during the period. State Street Corp raised its position in shares of SEI Investments by 1.6% during the second quarter. State Street Corp now owns 6,241,358 shares of the asset manager valued at $337,158,000 after buying an additional 98,309 shares in the last quarter. Beutel Goodman & Co Ltd. increased its equity stake in SEI Investments by 34.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 3,792,881 shares of the asset manager worth $228,369,000 after purchasing an additional 968,459 shares last quarter. Great West Life Assurance Co. Can increased its position in SEI Investments shares by 2.1% during the first quarter. Great West Life Assurance Co. Can now owns 2,020,748 shares of the asset manager worth $128,313,000 after acquiring 40,984 additional shares in the last quarter. Finally, Royce & Associates LP increased its stake in SEI Investments by 4.4% during the second quarter. Royce & Associates LP now owns 1,447,965 shares of the asset manager valued at $78,219,000 after acquiring an additional 60,371 shares last quarter. Hedge funds and other institutional investors own 70.50% of the company’s shares.

Company Profile SEI Investments

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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, financial services and investment advice.

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Analyst Recommendations for SEI Investments (NASDAQ:SEIC)

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