SEI Investments (NASDAQ:SEIC) Stake Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,704 shares of the asset manager’s stock after buying an additional 603 shares during the period. Thrivent Financial for Lutherans owned 0.16% of SEI Investments worth $14,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Atlanta Consulting Group Advisors LLC bought a new position in SEI Investments in the 3rd quarter worth about $263,000. Metis Global Partners LLC boosted its position in shares of SEI Investments by 10.3% during the third quarter. Metis Global Partners LLC now owns 6,569 shares of the asset manager’s stock worth $455,000 after buying an additional 614 shares during the period. Oppenheimer Asset Management Inc. increased its position in SEI Investments by 4.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,982 shares of the asset manager’s stock valued at $1,244,000 after acquiring an additional 768 shares during the period. GHE LLC raised its stake in SEI Investments by 6.0% during the 3rd quarter. GHE LLC now owns 8,943 shares of the asset manager’s stock valued at $583,000 after acquiring an additional 510 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in SEI Investments by 0.6% during the 3rd quarter. Victory Capital Management Inc. now owns 161,248 shares of the asset manager’s stock worth $11,157,000 after acquiring an additional 973 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Up 0.6 %

NASDAQ:SEIC opened at $79.91 on Thursday. The stock has a fifty day simple moving average of $73.17 and a 200 day simple moving average of $68.86. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. SEI Investments has a 1-year low of $57.43 and a 1-year high of $81.97.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same period last year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts predict that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments declared that its board has authorized a share buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the transaction, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,646 shares of company stock worth $14,115,934. Corporate insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SEIC shares. Piper Sandler lifted their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Oppenheimer raised their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.50.

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.