Thrive Wealth Management LLC Buys 362 Shares of SEI Investments (NASDAQ:SEIC)

Thrive Wealth Management LLC raised its stake in SEI Investments (NASDAQ:SEIC) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,307 shares of the asset manager’s stock after buying an additional 362 shares during the period. SEI Investments accounts for 0.6% of Thrive Wealth Management LLC’s holdings, making the stock its 21st largest holding. Thrive Wealth Management LLC’s holdings in SEI Investments were worth $3,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SEIC. First Horizon Advisors Inc. boosted its holdings in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of SEI Investments during the third quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of SEI Investments in the second quarter valued at approximately $136,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $83.48 on Monday. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm’s fifty day moving average is $82.40 and its 200-day moving average is $73.64. The firm has a market cap of $10.76 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.34 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $0.87 EPS. As a group, sell-side analysts anticipate that SEI Investments will post 4.42 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is presently 23.67%.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.75.

Insider Buying and Selling at SEI Investments

In related news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the sale, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is currently owned by company insiders.

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.