Thrivent Financial for Lutherans Sells 81,855 Shares of SEI Investments (NASDAQ:SEIC)

Thrivent Financial for Lutherans decreased its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 75.0% during the fourth quarter, HoldingsChannel reports. The fund owned 27,294 shares of the asset manager’s stock after selling 81,855 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SEI Investments were worth $1,591,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in SEI Investments during the fourth quarter valued at $42,000. Bessemer Group Inc. grew its holdings in shares of SEI Investments by 790.8% in the third quarter. Bessemer Group Inc. now owns 1,158 shares of the asset manager’s stock worth $57,000 after purchasing an additional 1,028 shares during the last quarter. Mendota Financial Group LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $86,000. Twin Tree Management LP grew its holdings in shares of SEI Investments by 103.7% in the third quarter. Twin Tree Management LP now owns 1,869 shares of the asset manager’s stock worth $92,000 after purchasing an additional 52,176 shares during the last quarter. Finally, Hollencrest Capital Management bought a new position in shares of SEI Investments in the fourth quarter worth about $111,000. Institutional investors own 69.45% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $57.92 on Friday. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.44 and a beta of 1.01. The firm has a 50-day simple moving average of $57.38 and a two-hundred day simple moving average of $59.42. SEI Investments has a one year low of $46.30 and a one year high of $64.69.

SEI Investments (NASDAQ:SEIC – Get Rating) last released its earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). SEI Investments had a net margin of 20.88% and a return on equity of 22.29%. The firm had revenue of $469.12 million during the quarter, compared to analyst estimates of $468.79 million. During the same period in the previous year, the company earned $1.36 earnings per share. SEI Investments’s revenue was down 19.3% on a year-over-year basis. As a group, equities analysts predict that SEI Investments will post 3.38 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, April 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, Director Sarah Blumenstein sold 10,546 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $60.22, for a total value of $635,080.12. Following the sale, the director now directly owns 6,447 shares of the company’s stock, valued at $388,238.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other SEI Investments news, Director Sarah Blumenstein sold 10,546 shares of the company’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $60.22, for a total value of $635,080.12. Following the sale, the director now directly owns 6,447 shares of the company’s stock, valued at $388,238.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 65,900 shares of the stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $55.45, for a total transaction of $3,654,155.00. Following the sale, the chairman now directly owns 8,583,787 shares in the company, valued at $475,970,989.15. The disclosure for this sale can be found here. Insiders have sold a total of 128,567 shares of company stock valued at $7,187,073 in the last ninety days. Company insiders own 25.40% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of a number of research analyst reports. Oppenheimer restated an “outperform” rating and issued a $68.00 price target on shares of SEI Investments in a report on Tuesday, April 4th. Morgan Stanley upped their price objective on shares of SEI Investments from $54.00 to $58.00 and gave the stock an “underweight” rating in a research note on Monday, April 3rd. Piper Sandler began coverage on shares of SEI Investments in a research note on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, StockNews.com began coverage on shares of SEI Investments in a research note on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.80.

About SEI Investments

(Get Rating)

SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.