Thrivent Financial for Lutherans Reduces Position in SEI Investments (NASDAQ:SEIC)

Thrivent Financial for Lutherans decreased its holdings in SEI Investments (NASDAQ:SEIC) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,133 shares of the asset manager’s stock after selling 38,571 shares during the quarter. Thrivent Financial for Lutherans owned 0.13% of SEI Investments worth $14,197,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SEIC. Parallel Advisors LLC lifted its holdings in SEI Investments by 0.9% in the fourth quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager’s stock valued at $1,424,000 after acquiring an additional 158 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of SEI Investments by 29.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,119 shares of the asset manager’s stock worth $917,000 after purchasing an additional 2,542 shares in the last quarter. Globeflex Capital L P bought a new stake in SEI Investments during the 4th quarter valued at approximately $148,000. Catalyst Funds Management Pty Ltd boosted its stake in SEI Investments by 200.0% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 6,000 shares of the asset manager’s stock worth $495,000 after purchasing an additional 4,000 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in SEI Investments by 11.2% during the 4th quarter. Brandes Investment Partners LP now owns 17,610 shares of the asset manager’s stock valued at $1,452,000 after buying an additional 1,772 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.00.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $75.84 on Friday. The stock has a market capitalization of $9.63 billion, a P/E ratio of 17.16, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The business’s 50 day moving average is $80.71 and its two-hundred day moving average is $77.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, equities research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has approved a share buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.