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

Prana Capital Management LP raised its position in SEI Investments Company (NASDAQ:SEIC) by 60.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 711,311 shares of the asset manager’s stock after purchasing an additional 269,023 shares during the period. SEI Investments accounts for approximately 2.0% of Prana Capital Management LP’s portfolio, making the stock its 18th largest position. Prana Capital Management LP’s holdings in SEI Investments were worth $60,355,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of SEI Investments during the 2nd quarter valued at about $55,685,000. Azora Capital LP increased its holdings in SEI Investments by 109.3% in the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock worth $69,907,000 after purchasing an additional 406,287 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after purchasing an additional 346,696 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after buying an additional 317,703 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of SEI Investments by 37.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 815,694 shares of the asset manager’s stock worth $69,206,000 after buying an additional 221,033 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $106.00 target price on shares of SEI Investments in a research note on Friday, February 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. UBS Group initiated coverage on SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, SEI Investments currently has an average rating of “Moderate Buy” and an average price target of $109.67.

SEI Investments Price Performance

NASDAQ SEIC opened at $78.77 on Wednesday. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The company has a market cap of $9.63 billion, a PE ratio of 13.99 and a beta of 0.96. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The firm’s 50-day simple moving average is $83.08 and its two-hundred day simple moving average is $83.33.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $596.97 million. During the same quarter in the previous year, the business earned $1.19 EPS. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. Research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the transaction, the insider directly owned 921 shares in the company, valued at approximately $75,282.54. The trade was a 81.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the sale, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. The trade was a 28.86% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 146,447 shares of company stock valued at $12,318,659. Company insiders own 14.30% of the company’s stock.

About SEI Investments

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.