Point72 Asset Management L.P. Acquires New Holdings in SEI Investments (NASDAQ:SEIC)

Point72 Asset Management L.P. acquired a new stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,800 shares of the asset manager's stock, valued at approximately $540,000.

Several other large investors also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in SEI Investments in the 2nd quarter valued at $1,434,000. Texas Permanent School Fund Corp lifted its holdings in shares of SEI Investments by 9.6% during the second quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager's stock valued at $6,187,000 after acquiring an additional 8,387 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of SEI Investments by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager's stock valued at $1,386,000 after purchasing an additional 8,094 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of SEI Investments by 12.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager's stock worth $4,925,000 after purchasing an additional 8,243 shares during the last quarter. Finally, Portfolio Design Labs LLC acquired a new stake in shares of SEI Investments during the 3rd quarter worth about $1,701,000. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 report on Thursday, October 24th. Oppenheimer boosted their target price on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, Piper Sandler raised their price target on SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of "Hold" and a consensus target price of $77.50.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.84 during trading on Thursday, reaching $86.58. The company had a trading volume of 1,009,898 shares, compared to its average volume of 596,323. SEI Investments has a 52 week low of $60.55 and a 52 week high of $87.18. The business's 50 day moving average price is $77.84 and its 200-day moving average price is $70.51. The stock has a market cap of $11.16 billion, a PE ratio of 20.91, a PEG ratio of 1.59 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments'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. Equities analysts anticipate that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments announced that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the sale, the chairman now directly owns 7,371,522 shares of the company's stock, valued at $620,903,298.06. The trade was a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,058 shares of company stock worth $7,245,697 over the last 90 days. 14.30% of the stock is owned by insiders.

About SEI Investments

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.