Thrive Wealth Management LLC Raises Stock Position in SEI Investments Company $SEIC

Thrive Wealth Management LLC lifted its holdings in SEI Investments Company (NASDAQ:SEIC) by 104.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,296 shares of the asset manager’s stock after acquiring an additional 40,463 shares during the period. SEI Investments accounts for approximately 1.0% of Thrive Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Thrive Wealth Management LLC owned 0.06% of SEI Investments worth $6,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bison Wealth LLC purchased a new position in SEI Investments during the fourth quarter worth $207,000. Nuveen LLC purchased a new stake in SEI Investments in the 1st quarter worth about $21,407,000. Dimensional Fund Advisors LP lifted its stake in SEI Investments by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock worth $134,487,000 after purchasing an additional 111,065 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of SEI Investments by 3.2% during the first quarter. Raymond James Financial Inc. now owns 532,195 shares of the asset manager’s stock valued at $41,314,000 after buying an additional 16,337 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of SEI Investments by 166.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 70,272 shares of the asset manager’s stock valued at $5,455,000 after buying an additional 43,890 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Tuesday. Morgan Stanley boosted their target price on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial upped their price target on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and a consensus price target of $105.20.

SEI Investments Price Performance

Shares of SEIC opened at $82.97 on Wednesday. The stock has a market capitalization of $10.16 billion, a PE ratio of 15.25 and a beta of 0.98. The company has a 50 day moving average price of $81.53 and a 200-day moving average price of $85.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The business had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Equities analysts predict that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a stock buyback plan on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,770 shares of company stock worth $3,723,850 in the last 90 days. 14.30% of the stock is owned by corporate insiders.

SEI Investments Company 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.