SEI Investments (NASDAQ:SEIC) Shares Bought by Prana Capital Management LP

Prana Capital Management LP increased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,013 shares of the asset manager's stock after acquiring an additional 102,197 shares during the quarter. SEI Investments comprises approximately 1.2% of Prana Capital Management LP's portfolio, making the stock its 25th largest holding. Prana Capital Management LP owned about 0.23% of SEI Investments worth $24,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of SEI Investments by 7.3% in the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after buying an additional 144 shares during the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after buying an additional 145 shares during the period. Principal Securities Inc. grew its holdings in shares of SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after buying an additional 155 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after buying an additional 158 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. This represents a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the transaction, the chief executive officer now directly owns 171,260 shares of the company's stock, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Piper Sandler increased their price target on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley restated an "overweight" rating and set a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

SEI Investments Stock Down 0.3%

Shares of SEI Investments stock traded down $0.25 during trading on Tuesday, reaching $85.30. The company's stock had a trading volume of 305,383 shares, compared to its average volume of 665,744. The business has a 50 day moving average price of $76.28 and a 200-day moving average price of $79.93. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The company has a market capitalization of $10.62 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same period in the previous year, the firm earned $0.99 EPS. The business's revenue was up 7.8% on a year-over-year basis. Research analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.