Hsbc Holdings PLC Sells 13,083 Shares of SEI Investments Company $SEIC

Hsbc Holdings PLC cut its stake in SEI Investments Company (NASDAQ:SEIC) by 15.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 70,381 shares of the asset manager’s stock after selling 13,083 shares during the quarter. Hsbc Holdings PLC’s holdings in SEI Investments were worth $6,153,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in SEI Investments in the 2nd quarter worth about $870,745,000. Bank of America Corp DE bought a new position in shares of SEI Investments in the second quarter valued at approximately $255,067,000. Caisse de depot et placement du Quebec bought a new position in shares of SEI Investments in the second quarter valued at approximately $87,924,000. Bank of New York Mellon Corp purchased a new position in SEI Investments during the second quarter valued at approximately $78,430,000. Finally, American Capital Management Inc. purchased a new position in SEI Investments during the second quarter valued at approximately $65,372,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Trading Down 1.3%

Shares of SEIC stock opened at $107.17 on Thursday. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $103.46 and a two-hundred day moving average price of $91.39. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $112.15. The firm has a market cap of $12.86 billion, a P/E ratio of 18.90 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. Equities analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling at SEI Investments

In other news, CEO Ryan Hicke sold 37,500 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the completion of the sale, the chief executive officer owned 192,815 shares of the company’s stock, valued at approximately $21,346,548.65. This represents a 16.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the transaction, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 179,832 shares of company stock valued at $17,897,438. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SEIC. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Piper Sandler lifted their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 21st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.60.

SEI Investments Company 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.