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

Key Points

• Thrivent Financial for Lutherans increased its stake in SEI Investments by 23.5% in the fourth quarter, buying an additional 59,336 shares and bringing its total to 311,567 shares worth about $25.6 million.
• SEI Investments reported better-than-expected quarterly earnings of $1.44 per share, topping estimates, while revenue rose 12.9% year over year to $622.18 million.
• Analysts remain generally bullish on the stock, with seven Buy ratings and one Hold; the consensus price target is $103, above the recent share price near $90.58.

Thrivent Financial for Lutherans increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 23.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,567 shares of the asset manager's stock after buying an additional 59,336 shares during the quarter. Thrivent Financial for Lutherans owned 0.25% of SEI Investments worth $25,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bison Wealth LLC purchased a new stake in SEI Investments during the 4th quarter worth approximately $207,000. Baird Financial Group Inc. purchased a new position in shares of SEI Investments during the first quarter worth $201,000. Geneos Wealth Management Inc. boosted its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after buying an additional 200 shares during the period. M&T Bank Corp boosted its position in shares of SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock worth $289,000 after buying an additional 341 shares during the period. Finally, CW Advisors LLC purchased a new position in shares of SEI Investments during the second quarter worth $280,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director owned 77,883 shares of the company's stock, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at approximately $83,958.36. The trade was a 81.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 120,447 shares of company stock worth $10,235,499 in the last quarter. Insiders own 4.80% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $90.58 on Monday. The business's 50 day simple moving average is $82.46 and its 200-day simple moving average is $82.74. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 15.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping 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 business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the previous year, the company earned $1.17 EPS. The company's quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SEIC. Morgan Stanley reduced their target price on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial reissued an "outperform" rating and set a $82.00 price target on shares of SEI Investments in a research note on Wednesday, April 29th. Finally, Piper Sandler reissued an "overweight" rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, SEI Investments has an average rating of "Moderate Buy" and a consensus price target of $103.00.

About SEI Investments

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.

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