Verition Fund Management LLC Has $7.69 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

Verition Fund Management LLC raised its holdings in SEI Investments (NASDAQ:SEIC) by 2,766.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 111,098 shares of the asset manager’s stock after acquiring an additional 107,222 shares during the quarter. Verition Fund Management LLC owned approximately 0.09% of SEI Investments worth $7,687,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its position 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. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments during the second quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 275 shares during the period. Finally, Mather Group LLC. raised its holdings in SEI Investments by 181.2% during the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was 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 approximately $484,835. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the sale, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,064 shares of company stock worth $5,173,529 in the last ninety days. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 0.2 %

Shares of NASDAQ SEIC opened at $82.63 on Monday. The firm has a market capitalization of $10.65 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.56 and a beta of 0.97. The firm’s 50-day moving average price is $75.14 and its 200-day moving average price is $69.53. SEI Investments has a 1-year low of $57.86 and a 1-year high of $83.11.

SEI Investments (NASDAQ:SEIC) last issued 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. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the company posted $0.87 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has initiated a share buyback 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 often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.