SEI Investments (NASDAQ:SEIC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 347,063 shares of the asset manager’s stock after selling 32,545 shares during the period. Hsbc Holdings PLC’s holdings in SEI Investments were worth $22,456,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter worth approximately $30,000. TFO Wealth Partners LLC raised its position in SEI Investments by 6,277.8% during the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after buying an additional 565 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after acquiring an additional 386 shares during the period. Finally, Mather Group LLC. raised its holdings in SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after purchasing an additional 500 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SEIC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Piper Sandler dropped their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus target price of $71.25.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William Doran sold 5,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now directly owns 656,386 shares in the company, valued at $44,004,117.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The disclosure for this sale can be found here. Insiders have sold 137,582 shares of company stock worth $9,277,605 in the last three months. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 1.6 %

SEIC stock opened at $68.10 on Friday. The firm has a 50 day moving average of $66.74 and a 200-day moving average of $67.26. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.34 and a beta of 0.99. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. During the same period in the previous year, the business earned $0.89 earnings per share. SEI Investments’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that SEI Investments will post 4.2 earnings per share for the current fiscal year.

SEI Investments 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.