Thrive Wealth Management LLC boosted its holdings in SEI Investments (NASDAQ:SEIC – Get Rating) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,474 shares of the asset manager's stock after purchasing an additional 1,250 shares during the quarter. SEI Investments comprises 1.7% of Thrive Wealth Management LLC's portfolio, making the stock its 9th largest position. Thrive Wealth Management LLC owned approximately 0.07% of SEI Investments worth $4,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue grew its holdings in SEI Investments by 8.3% in the first quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager's stock worth $3,304,000 after purchasing an additional 4,206 shares during the period. Commerce Bank grew its holdings in shares of SEI Investments by 2.2% during the fourth quarter. Commerce Bank now owns 11,386 shares of the asset manager's stock valued at $694,000 after buying an additional 240 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of SEI Investments by 1.5% during the first quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager's stock valued at $8,731,000 after buying an additional 2,100 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of SEI Investments by 4.2% during the first quarter. Envestnet Asset Management Inc. now owns 229,692 shares of the asset manager's stock valued at $13,830,000 after buying an additional 9,201 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of SEI Investments by 3.8% during the first quarter. Profund Advisors LLC now owns 5,637 shares of the asset manager's stock valued at $339,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 70.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SEIC. The Goldman Sachs Group cut their price target on shares of SEI Investments to $58.00 in a report on Friday, July 22nd. StockNews.com cut shares of SEI Investments from a "buy" rating to a "hold" rating in a report on Friday, July 22nd. Piper Sandler dropped their target price on shares of SEI Investments to $61.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. William Blair restated a "mkt perform" rating on shares of SEI Investments in a report on Monday, July 25th. Finally, Morgan Stanley dropped their target price on shares of SEI Investments from $55.00 to $52.00 and set an "underweight" rating on the stock in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SEI Investments currently has an average rating of "Hold" and an average price target of $60.50.

Insiders Place Their Bets

SEI Investments Stock Down 2.0 %

SEIC traded down $1.11 during trading on Friday, hitting $53.63. The company's stock had a trading volume of 1,267,198 shares, compared to its average volume of 548,362. SEI Investments has a one year low of $51.07 and a one year high of $65.22. The firm has a market cap of $7.27 billion, a PE ratio of 12.86, a P/E/G ratio of 1.23 and a beta of 0.98. The business's 50 day simple moving average is $55.23 and its 200-day simple moving average is $56.23.

SEI Investments (NASDAQ:SEIC – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The business had revenue of $481.67 million during the quarter, compared to the consensus estimate of $472.18 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that SEI Investments will post 3.71 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a stock buyback plan on Wednesday, June 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

SEI Investments Profile

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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.

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