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

Thrivent Financial for Lutherans cut its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 20.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,293 shares of the asset manager’s stock after selling 27,115 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of SEI Investments worth $9,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SEIC. FORA Capital LLC bought a new position in SEI Investments in the first quarter valued at $990,000. Raymond James Financial Inc. boosted its holdings in shares of SEI Investments by 3.2% in the 1st quarter. Raymond James Financial Inc. now owns 532,195 shares of the asset manager’s stock worth $41,314,000 after purchasing an additional 16,337 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of SEI Investments by 4.7% during the 1st quarter. Ameriprise Financial Inc. now owns 498,088 shares of the asset manager’s stock valued at $38,666,000 after purchasing an additional 22,296 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of SEI Investments by 114.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock valued at $1,916,000 after buying an additional 11,373 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of SEI Investments by 38.5% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 737,247 shares of the asset manager’s stock valued at $57,232,000 after buying an additional 204,911 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.1%

NASDAQ:SEIC opened at $83.08 on Thursday. The firm has a market capitalization of $10.17 billion, a P/E ratio of 15.27 and a beta of 0.98. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $81.50 and a 200 day moving average of $85.60. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.19 earnings per share. On average, research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at SEI Investments

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 stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 44,770 shares of company stock worth $3,723,850 in the last 90 days. Company insiders own 14.60% of the company’s stock.

SEI Investments 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.