SEI Investments Company (SEIC) Position Raised by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans boosted its stake in SEI Investments Company (NASDAQ:SEIC) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,940 shares of the asset manager’s stock after purchasing an additional 1,830 shares during the quarter. Thrivent Financial For Lutherans’ holdings in SEI Investments were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP bought a new position in shares of SEI Investments in the 1st quarter worth $713,000. UBS Asset Management Americas Inc. lifted its holdings in shares of SEI Investments by 2.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after acquiring an additional 17,422 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of SEI Investments during the 1st quarter worth $1,367,000. TD Asset Management Inc. lifted its holdings in shares of SEI Investments by 7.4% during the 1st quarter. TD Asset Management Inc. now owns 9,814 shares of the asset manager’s stock worth $495,000 after acquiring an additional 680 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of SEI Investments during the 1st quarter worth $287,000. 68.65% of the stock is currently owned by institutional investors and hedge funds.
SEI Investments Company (NASDAQ:SEIC) opened at 61.46 on Tuesday. The company’s 50-day moving average price is $57.86 and its 200 day moving average price is $53.93. SEI Investments Company has a 52-week low of $43.54 and a 52-week high of $61.71. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 28.18 and a beta of 1.35.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, equities analysts expect that SEI Investments Company will post $2.28 EPS for the current fiscal year.
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In other SEI Investments news, insider Stephen Meyer sold 20,000 shares of SEI Investments stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the completion of the transaction, the insider now directly owns 113,224 shares of the company’s stock, valued at $6,964,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of SEI Investments stock in a transaction on Friday, August 4th. The stock was sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the transaction, the insider now directly owns 10,686,282 shares of the company’s stock, valued at $597,790,615.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock valued at $18,540,250. 16.50% of the stock is currently owned by company insiders.
A number of research firms have weighed in on SEIC. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. raised their price objective on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday, July 12th. Finally, Mizuho started coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.50.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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