Thrivent Financial for Lutherans Raises Position in SEI Investments Company $SEIC

Thrivent Financial for Lutherans grew its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 23.5% during the fourth quarter, HoldingsChannel reports. The firm owned 311,567 shares of the asset manager’s stock after purchasing an additional 59,336 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SEI Investments were worth $25,554,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of SEI Investments by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after purchasing an additional 30,970 shares during the period. Bank of America Corp DE lifted its stake in shares of SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after purchasing an additional 133,057 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of SEI Investments by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after purchasing an additional 31,953 shares during the period. Invesco Ltd. lifted its stake in shares of SEI Investments by 4.1% during the 3rd quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock worth $146,920,000 after purchasing an additional 68,873 shares during the period. Finally, Caisse de depot et placement du Quebec lifted its stake in shares of SEI Investments by 31.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock worth $114,018,000 after purchasing an additional 317,703 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $90.58 on Monday. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $93.96. The company has a market cap of $10.89 billion, a P/E ratio of 15.46 and a beta of 1.00. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $82.46 and a 200 day moving average price of $82.74.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Research analysts anticipate that SEI Investments Company will post 5.89 EPS for the current fiscal year.

Analysts Set New Price Targets

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. UBS Group began coverage on SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Insider Transactions at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the sale, the insider owned 921 shares of the company’s stock, valued at $83,958.36. This represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 120,447 shares of company stock worth $10,235,499 in the last quarter. 4.80% of the stock is owned by corporate insiders.

SEI Investments 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.