Verition Fund Management LLC Acquires 107,222 Shares of SEI Investments (NASDAQ:SEIC)

Verition Fund Management LLC increased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 2,766.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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’s holdings in SEI Investments were worth $7,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SEIC. SG Americas Securities LLC purchased a new position in shares of SEI Investments in the 2nd quarter worth about $1,434,000. Texas Permanent School Fund Corp grew its position in shares of SEI Investments by 9.6% during the 2nd 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 grew its position in shares of SEI Investments by 60.7% during 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 acquiring an additional 8,094 shares during the period. GAMMA Investing LLC raised its holdings in shares of SEI Investments by 41.7% in the 2nd quarter. GAMMA Investing LLC now owns 2,120 shares of the asset manager’s stock worth $137,000 after purchasing an additional 624 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised 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 period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

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, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the sale, the director now owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 35.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,064 shares of company stock valued at $5,173,529. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler raised their target price 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 upped their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $77.50.

SEI Investments Stock Performance

Shares of SEIC opened at $82.63 on Monday. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.97. SEI Investments has a 52-week low of $57.86 and a 52-week high of $83.11. The stock’s 50-day simple moving average is $75.14 and its 200 day simple moving average is $69.53.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS 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 analysts’ expectations of $534.08 million. During the same quarter in the previous year, the company earned $0.87 earnings per share. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated 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 purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.