Thrivent Financial for Lutherans Has $21.40 Million Stock Holdings in SEI Investments Company $SEIC
by Sarita Garza · The Markets DailyThrivent Financial for Lutherans increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC – Free Report) by 141.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,231 shares of the asset manager’s stock after purchasing an additional 147,938 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SEI Investments were worth $21,401,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of SEIC. Arizona State Retirement System increased its position in shares of SEI Investments by 0.4% during the third quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock worth $2,656,000 after acquiring an additional 129 shares in the last quarter. Ethic Inc. lifted its position in SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after acquiring an additional 133 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in SEI Investments by 3.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock worth $519,000 after purchasing an additional 179 shares during the period. WealthCollab LLC increased its holdings in SEI Investments by 33.7% during the 2nd quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock worth $69,000 after purchasing an additional 193 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Institutional investors own 70.59% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on SEIC shares. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, UBS Group set a $115.00 target price on shares of SEI Investments and gave the stock a “buy” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.17.
Check Out Our Latest Research Report on SEIC
Insider Transactions at SEI Investments
In other SEI Investments news, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the transaction, the chief executive officer owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the sale, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. The trade was a 0.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 14.30% of the company’s stock.
SEI Investments Price Performance
NASDAQ:SEIC opened at $84.13 on Wednesday. The stock has a market capitalization of $10.30 billion, a PE ratio of 14.94 and a beta of 0.95. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The firm has a fifty day simple moving average of $84.25 and a 200 day simple moving average of $84.95. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04.
SEI Investments (NASDAQ:SEIC – Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The firm had revenue of $607.93 million during the quarter, compared to analysts’ expectations of $596.97 million. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.
SEI Investments Announces Dividend
The company also recently announced a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were paid a $0.52 dividend. This represents a yield of 124.0%. The ex-dividend date was Monday, December 29th. SEI Investments’s dividend payout ratio (DPR) is 18.47%.
SEI Investments declared that its Board of Directors has authorized a stock buyback 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 purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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.
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