FORA Capital LLC Invests $237,000 in SEI Investments (NASDAQ:SEIC)

FORA Capital LLC acquired a new stake in SEI Investments (NASDAQ:SEIC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,424 shares of the asset manager’s stock, valued at approximately $237,000.

Other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SEI Investments during the third quarter valued at approximately $254,000. Bridgewater Associates LP raised its holdings in shares of SEI Investments by 80.1% in the 3rd quarter. Bridgewater Associates LP now owns 53,086 shares of the asset manager’s stock valued at $3,673,000 after acquiring an additional 23,604 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of SEI Investments by 30.6% during the 3rd quarter. Townsquare Capital LLC now owns 26,839 shares of the asset manager’s stock valued at $1,857,000 after acquiring an additional 6,286 shares during the last quarter. BNP Paribas Financial Markets lifted its position in SEI Investments by 99.1% during the third quarter. BNP Paribas Financial Markets now owns 90,902 shares of the asset manager’s stock valued at $6,290,000 after purchasing an additional 45,241 shares during the last quarter. Finally, FMR LLC lifted its position in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SEIC. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Oppenheimer lifted their price objective on 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 lifted their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One 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 company has an average rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $398,200.00. Following the transaction, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was 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 worth $5,173,529 in the last 90 days. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC opened at $82.63 on Friday. The company has a 50-day simple moving average of $74.85 and a two-hundred day simple moving average of $69.41. The firm has a market capitalization of $10.65 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. SEI Investments has a one year low of $57.86 and a one year high of $83.11.

SEI Investments (NASDAQ:SEIC) last announced its 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 analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. Analysts expect that SEI Investments will post 4.41 EPS for the current fiscal year.

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

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.