SEI Investments Company $SEIC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 53.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 83,464 shares of the asset manager’s stock after selling 97,252 shares during the quarter. Hsbc Holdings PLC’s holdings in SEI Investments were worth $6,566,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SEIC. Allworth Financial LP increased its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares during the period. Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock valued at $46,000 after buying an additional 411 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEIC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler raised their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research note on Thursday. Raymond James Financial boosted their target price on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

More SEI Investments News

Here are the key news stories impacting SEI Investments this week:

• Positive Sentiment: SEI Investments beat Q2 earnings expectations, reporting $1.66 per share versus consensus around $1.44-$1.45, while revenue came in above estimates at $641.62 million. The company also said revenue rose 14.7% year over year and operating income increased 33%, with operating margin reaching 31%. Article Title
• Positive Sentiment: Management highlighted record growth in revenue and EPS in the Q2 earnings call, which should support confidence in the company’s operating momentum and ability to convert higher activity into profits. Article Title
• Positive Sentiment: Analysts turned more constructive after the report: Morgan Stanley raised its price target to $125 and reiterated an overweight rating, while Keefe, Bruyette & Woods lifted its target to $119 with an outperform rating. Article Title
• Positive Sentiment: Assets under management and assets under administration reportedly rose year over year, reinforcing that the business is still seeing healthy client inflows and scale benefits. Article Title
• Neutral Sentiment: Despite the earnings beat, EPS was below last year’s level, which may have tempered enthusiasm and limited the stock’s upside reaction. Article Title

SEI Investments Stock Down 2.0%

Shares of SEI Investments stock opened at $96.73 on Friday. The stock’s fifty day moving average is $91.54 and its 200-day moving average is $86.04. The firm has a market capitalization of $11.63 billion, a PE ratio of 17.06 and a beta of 0.97. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $102.29.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results 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 business had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a return on equity of 29.42% and a net margin of 28.85%.SEI Investments’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. Equities analysts anticipate that SEI Investments Company will post 5.98 earnings per share for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio is currently 17.75%.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 50,000 shares of SEI Investments stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the transaction, the chairman directly owned 6,825,783 shares of the company’s stock, valued at $595,549,566.75. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the transaction, the insider directly owned 921 shares in the company, valued at approximately $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,332 shares of company stock worth $6,278,583 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

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.