Venturi Wealth Management LLC Invests $208,000 in SEI Investments Company (SEIC) Stock
Venturi Wealth Management LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,381 shares of the asset manager’s stock, valued at approximately $208,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Invictus RG purchased a new stake in SEI Investments during the 3rd quarter worth about $111,000. Pacer Advisors Inc. raised its holdings in shares of SEI Investments by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after acquiring an additional 203 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of SEI Investments by 7,575.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock valued at $150,000 after acquiring an additional 2,424 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after acquiring an additional 253 shares in the last quarter. Finally, Mosaic Family Wealth LLC raised its holdings in shares of SEI Investments by 6.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 200 shares in the last quarter. 70.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $70.53 on Thursday. SEI Investments Company has a 1-year low of $47.88 and a 1-year high of $71.13. The firm has a market capitalization of $11,035.72, a PE ratio of 30.47, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03.
SEI Investments declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several analysts have weighed in on the company. Mizuho reaffirmed a “buy” rating and issued a $72.00 price target on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Monday, October 30th. Oppenheimer raised their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a report on Sunday, September 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $67.25.
In other news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $58.77, for a total transaction of $1,175,400.00. Following the transaction, the insider now directly owns 32,540 shares in the company, valued at approximately $1,912,375.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.69, for a total value of $586,900.00. Following the transaction, the director now owns 80,200 shares in the company, valued at $4,706,938. The disclosure for this sale can be found here. Insiders have sold a total of 206,250 shares of company stock worth $13,246,650 over the last quarter. Corporate insiders own 16.50% of the company’s stock.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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