Thrivent Financial for Lutherans Acquires 147,938 Shares of SEI Investments Company $SEIC

Thrivent Financial for Lutherans boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 141.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,231 shares of the asset manager’s stock after purchasing an additional 147,938 shares during the period. Thrivent Financial for Lutherans owned 0.21% of SEI Investments worth $21,401,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SEIC. Arizona State Retirement System increased its stake in shares of SEI Investments by 0.4% in the third quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock valued at $2,656,000 after buying an additional 129 shares in the last quarter. Ethic Inc. lifted its position in SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in SEI Investments by 3.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock worth $519,000 after acquiring an additional 179 shares during the last quarter. WealthCollab LLC increased its position in SEI Investments by 33.7% in the 2nd quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 193 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Piper Sandler increased their price objective on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Raymond James Financial restated an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a research report on Monday, January 5th. Finally, UBS Group set a $115.00 price target on SEI Investments and gave the company a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average target price of $110.17.

SEI Investments Stock Down 5.1%

NASDAQ:SEIC opened at $84.13 on Wednesday. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The stock’s fifty day simple moving average is $84.25 and its 200-day simple moving average is $84.95. The firm has a market capitalization of $10.30 billion, a P/E ratio of 14.94 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 earnings per share. Equities research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is presently 18.47%.

SEI Investments announced that its Board of Directors has initiated a stock repurchase program on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the sale, the chairman owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares in the company, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 14.30% of the stock is currently owned by insiders.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.