Victory Capital Management Inc. Purchases 13,903 Shares of SEI Investments (NASDAQ:SEIC)

Victory Capital Management Inc. lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,275 shares of the asset manager’s stock after purchasing an additional 13,903 shares during the quarter. Victory Capital Management Inc. owned 0.12% of SEI Investments worth $10,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted 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 worth $76,751,000 after acquiring an additional 36,810 shares in the last quarter. Brown Advisory Inc. grew its position in shares of SEI Investments by 1.6% in the 4th quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager’s stock valued at $43,998,000 after purchasing an additional 10,700 shares during the period. Charles Schwab Investment Management Inc. increased its stake in SEI Investments by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager’s stock worth $41,652,000 after purchasing an additional 12,453 shares in the last quarter. Hsbc Holdings PLC raised its holdings in SEI Investments by 0.8% during the 4th quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock worth $35,049,000 after buying an additional 4,212 shares during the period. Finally, Raymond James & Associates lifted its stake in SEI Investments by 4.8% in the second quarter. Raymond James & Associates now owns 524,631 shares of the asset manager’s stock valued at $33,938,000 after buying an additional 24,058 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Trading Up 0.4 %

Shares of SEIC opened at $66.82 on Friday. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54. The firm has a fifty day simple moving average of $66.50 and a 200 day simple moving average of $67.25. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.32 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. SEI Investments’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts predict that SEI Investments will post 4.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several research reports. Piper Sandler lowered their price objective on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.25.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. The sale was disclosed in a filing with the SEC, which is available through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,582 shares of company stock valued at $9,277,605. 14.30% of the stock is 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.