Point72 Asia Singapore Pte. Ltd. Takes Position in SEI Investments (NASDAQ:SEIC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,820 shares of the asset manager's stock, valued at approximately $818,000.

A number of other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock valued at $89,291,000 after acquiring an additional 222,631 shares during the period. Bank of New York Mellon Corp boosted its position in shares of SEI Investments by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager's stock worth $76,751,000 after purchasing an additional 36,810 shares in the last quarter. FMR LLC boosted its position in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager's stock valued at $37,791,000 after buying an additional 10,576 shares in the last quarter. Finally, Raymond James & Associates raised its stake in SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager's stock worth $37,672,000 after buying an additional 19,846 shares during the period. Institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 0.6 %

Shares of NASDAQ:SEIC traded down $0.52 during mid-day trading on Monday, hitting $82.11. 137,997 shares of the company traded hands, compared to its average volume of 591,410. The stock has a 50-day moving average price of $75.14 and a two-hundred day moving average price of $69.54. 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 $10.58 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97.

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

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This represents a 0.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Peterson sold 10,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $514,410. This trade represents a 60.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,064 shares of company stock valued at $5,173,529 over the last three months. Company insiders own 14.30% of the company's stock.

Analysts Set New Price Targets

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

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.