Thrivent Financial for Lutherans Sells 27,115 Shares of SEI Investments Company $SEIC

Thrivent Financial for Lutherans lowered its position in shares of SEI Investments Company (NASDAQ:SEIC) by 20.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 104,293 shares of the asset manager’s stock after selling 27,115 shares during the period. Thrivent Financial for Lutherans’ holdings in SEI Investments were worth $9,372,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Bison Wealth LLC purchased a new position in SEI Investments during the 4th quarter valued at about $207,000. Dimensional Fund Advisors LP increased its stake in shares of SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock valued at $134,487,000 after purchasing an additional 111,065 shares in the last quarter. Raymond James Financial Inc. increased its stake 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 purchasing an additional 16,337 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of SEI Investments by 166.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 70,272 shares of the asset manager’s stock worth $5,455,000 after purchasing an additional 43,890 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of SEI Investments in the 1st quarter worth approximately $318,000. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In related news, 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 transaction of $864,100.00. Following the completion of the sale, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 44,770 shares of company stock worth $3,723,850. Insiders own 14.60% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $83.08 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 15.27 and a beta of 0.98. The business has a 50-day simple moving average of $81.50 and a two-hundred day simple moving average of $85.60. 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 quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million during the quarter, compared to analyst estimates of $578.75 million. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has approved a stock buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the asset manager to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SEIC shares. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Morgan Stanley lifted their price target on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Raymond James Financial increased their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $93.00 to $97.00 in a report on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.20.

About SEI Investments

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.