Thrivent Financial for Lutherans Sells 38,571 Shares of SEI Investments (NASDAQ:SEIC)

Thrivent Financial for Lutherans reduced its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent 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 approximately 0.13% of SEI Investments worth $14,197,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock worth $174,092,000 after acquiring an additional 300,704 shares during the period. Boston Trust Walden Corp grew its holdings in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after purchasing an additional 20,020 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SEI Investments by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after purchasing an additional 46,425 shares during the period. FMR LLC lifted its holdings in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock valued at $55,124,000 after purchasing an additional 3,967 shares during the period. 70.59% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SEIC shares. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. 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. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of "Hold" and a consensus price target of $90.00.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 in the last quarter. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Trading Up 0.1 %

Shares of NASDAQ SEIC traded up $0.05 during midday trading on Wednesday, reaching $78.32. The company's stock had a trading volume of 685,728 shares, compared to its average volume of 611,910. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a 50 day moving average price of $80.62 and a 200 day moving average price of $78.28.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are 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.