BNP Paribas Financial Markets Raises Position in SEI Investments (NASDAQ:SEIC)

BNP Paribas Financial Markets raised its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 99.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,902 shares of the asset manager's stock after purchasing an additional 45,241 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of SEI Investments worth $6,290,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments during the 2nd quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 78.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the subject of a number of research analyst reports. Oppenheimer boosted their price target on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Piper Sandler boosted their price target on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their price target on SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $77.50.

Insider Activity

In related news, CEO Ryan Hicke sold 10,000 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares of the company's stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Philip Mccabe sold 10,500 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.91, for a total value of $797,055.00. Following the transaction, the executive vice president now directly owns 43,544 shares in the company, valued at approximately $3,305,425.04. This trade represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,064 shares of company stock valued at $5,173,529 in the last ninety days. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Down 0.3 %

Shares of NASDAQ SEIC traded down $0.22 during trading on Tuesday, reaching $81.70. The company had a trading volume of 421,994 shares, compared to its average volume of 603,624. The company's fifty day moving average price is $75.40 and its 200-day moving average price is $69.63. SEI Investments has a 12 month low of $59.42 and a 12 month high of $83.15. The stock has a market cap of $10.53 billion, a P/E ratio of 19.73, a PEG ratio of 1.55 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business's revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities analysts predict that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its board has authorized a share repurchase program on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

SEI Investments 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.