Prana Capital Management LP Acquires 269,023 Shares of SEI Investments Company $SEIC

Prana Capital Management LP lifted its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 60.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 711,311 shares of the asset manager’s stock after purchasing an additional 269,023 shares during the period. SEI Investments accounts for about 2.0% of Prana Capital Management LP’s portfolio, making the stock its 18th largest position. Prana Capital Management LP owned 0.58% of SEI Investments worth $60,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bison Wealth LLC bought a new stake in SEI Investments in the fourth quarter valued at about $207,000. Baird Financial Group Inc. bought a new stake in SEI Investments during the 1st quarter worth approximately $201,000. Geneos Wealth Management Inc. increased its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of SEI Investments by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 26,957 shares of the asset manager’s stock worth $2,422,000 after acquiring an additional 337 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of SEI Investments by 5.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,308 shares of the asset manager’s stock worth $2,184,000 after acquiring an additional 1,265 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

SEIC opened at $78.77 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The business has a fifty day simple moving average of $83.08 and a 200 day simple moving average of $83.33. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a market capitalization of $9.63 billion, a PE ratio of 13.99 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The business had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. During the same period in the prior year, the business posted $1.19 earnings per share. SEI Investments’s revenue was up 9.1% compared to the same quarter last year. Research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 55,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $80.23, for a total transaction of $4,412,650.00. Following the completion of the sale, the chairman directly owned 6,883,230 shares in the company, valued at $552,241,542.90. This represents a 0.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the transaction, the chief executive officer owned 197,164 shares in the company, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 146,447 shares of company stock valued at $12,318,659. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent research reports. UBS Group assumed coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $106.00 price objective on shares of SEI Investments in a research report on Friday, February 20th. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Finally, Morgan Stanley increased their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.