BNP Paribas Financial Markets Grows Stake in SEI Investments (NASDAQ:SEIC)

BNP Paribas Financial Markets grew its position in SEI Investments (NASDAQ:SEIC) by 99.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,902 shares of the asset manager’s stock after buying an additional 45,241 shares during the quarter. BNP Paribas Financial Markets owned 0.07% of SEI Investments worth $6,290,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 222,631 shares during the period. Bank of New York Mellon Corp increased its holdings in SEI Investments by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager’s stock valued at $76,751,000 after buying an additional 36,810 shares during the period. FMR LLC raised its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares in the last quarter. Raymond James & Associates lifted its holdings in SEI Investments by 3.8% during the third 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. Finally, ProShare Advisors LLC boosted its position in SEI Investments by 0.6% during the 2nd quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager’s stock valued at $30,082,000 after acquiring an additional 2,698 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler boosted their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $81.92 on Tuesday. SEI Investments has a fifty-two week low of $59.42 and a fifty-two week high of $83.15. The company has a market cap of $10.56 billion, a PE ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97. The business has a 50-day simple moving average of $75.14 and a two-hundred day simple moving average of $69.54.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $534.08 million. During the same period last year, the business earned $0.87 EPS. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has authorized a share buyback plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the firm’s 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 directly owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carmen Romeo sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % 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 over the last ninety days. 14.30% of the stock is currently owned by insiders.

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.