Victory Capital Management Inc. Grows Stock Holdings in SEI Investments (NASDAQ:SEIC)

Victory Capital Management Inc. grew its holdings in shares of SEI Investments (NASDAQ:SEICGet Rating) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 281,927 shares of the asset manager’s stock after buying an additional 30,473 shares during the quarter. Victory Capital Management Inc. owned 0.21% of SEI Investments worth $15,230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC grew its stake in SEI Investments by 6.5% during the second quarter. ProShare Advisors LLC now owns 425,256 shares of the asset manager’s stock worth $22,972,000 after buying an additional 26,043 shares during the period. Yousif Capital Management LLC boosted its stake in shares of SEI Investments by 3.5% in the second quarter. Yousif Capital Management LLC now owns 60,180 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 2,060 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of SEI Investments by 11.9% in the second quarter. Russell Investments Group Ltd. now owns 36,026 shares of the asset manager’s stock valued at $1,947,000 after purchasing an additional 3,838 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in shares of SEI Investments by 11.6% in the second quarter. Baker Tilly Wealth Management LLC now owns 19,316 shares of the asset manager’s stock valued at $1,043,000 after purchasing an additional 2,001 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of SEI Investments by 19,074.7% in the second quarter. National Bank of Canada FI now owns 65,194 shares of the asset manager’s stock valued at $3,521,000 after purchasing an additional 64,854 shares during the period. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $49.38 on Thursday. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. SEI Investments has a 1-year low of $46.30 and a 1-year high of $65.22. The company’s fifty day moving average is $52.53 and its two-hundred day moving average is $54.48.

Insiders Place Their Bets

In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the sale, the insider now directly owns 576,663 shares of the company’s stock, valued at $31,802,964.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 83,386 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $55.07, for a total transaction of $4,592,067.02. Following the sale, the insider now directly owns 9,136,792 shares of the company’s stock, valued at $503,163,135.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the sale, the insider now directly owns 576,663 shares in the company, valued at approximately $31,802,964.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,386 shares of company stock valued at $7,359,017. Company insiders own 25.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SEIC shares. TheStreet downgraded shares of SEI Investments from a “b-” rating to a “c+” rating in a research note on Friday, October 14th. StockNews.com initiated coverage on shares of SEI Investments in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods reduced their price objective on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Oppenheimer reduced their price objective on shares of SEI Investments to $57.00 in a research note on Wednesday, October 5th. Finally, William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus target price of $58.17.

SEI Investments Company Profile

(Get Rating)

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.

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