SEI Investments Company $SEIC Shares Acquired by Thrive Wealth Management LLC

Thrive Wealth Management LLC lifted its position in SEI Investments Company (NASDAQ:SEIC) by 104.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 79,296 shares of the asset manager’s stock after acquiring an additional 40,463 shares during the period. SEI Investments accounts for 1.0% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Thrive Wealth Management LLC’s holdings in SEI Investments were worth $6,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments in the second quarter valued at about $34,000. Addison Advisors LLC boosted its position in SEI Investments by 117.6% in the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. Geneos Wealth Management Inc. raised its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in SEI Investments during the 2nd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in SEI Investments by 252.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 363 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $82.97 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The firm has a market cap of $10.16 billion, a PE ratio of 15.25 and a beta of 0.98. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The firm has a fifty day moving average of $81.53 and a 200 day moving average of $85.61.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. During the same quarter in the previous year, the company earned $1.19 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on SEIC. Keefe, Bruyette & Woods raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $97.00 price target on the stock in a research report on Tuesday. Raymond James Financial lifted their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.20.

Insiders Place Their Bets

In related news, Director Carl Guarino sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction 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 transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 44,770 shares of company stock worth $3,723,850. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Company Profile

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.