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

Hsbc Holdings PLC decreased its position in SEI Investments (NASDAQ:SEIC) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,063 shares of the asset manager’s stock after selling 32,545 shares during the quarter. Hsbc Holdings PLC owned 0.26% of SEI Investments worth $22,456,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SEIC. Private Advisor Group LLC purchased a new stake in shares of SEI Investments in the 4th quarter valued at $262,000. Envestnet Portfolio Solutions Inc. purchased a new stake in SEI Investments during the fourth quarter worth about $247,000. Norges Bank acquired a new stake in shares of SEI Investments during the fourth quarter worth about $32,161,000. Corient Private Wealth LLC boosted its stake in shares of SEI Investments by 47.8% in the fourth quarter. Corient Private Wealth LLC now owns 12,768 shares of the asset manager’s stock valued at $811,000 after purchasing an additional 4,131 shares during the period. Finally, US Bancorp DE grew its holdings in shares of SEI Investments by 2.1% in the fourth quarter. US Bancorp DE now owns 36,637 shares of the asset manager’s stock valued at $2,328,000 after purchasing an additional 743 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William Doran sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares in the company, valued at $44,004,117.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the sale, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of the company’s stock in a transaction on 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 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. In the last 90 days, insiders have sold 137,582 shares of company stock worth $9,277,605. 14.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased their price target on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $71.25.

SEI Investments Trading Down 1.6 %

Shares of NASDAQ:SEIC opened at $68.10 on Friday. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54. The company’s 50 day moving average is $66.74 and its two-hundred day moving average is $67.26. The company has a market cap of $8.95 billion, a PE ratio of 18.61, a P/E/G ratio of 1.34 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. SEI Investments’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that SEI Investments will post 4.2 EPS for the current year.

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.