Hsbc Holdings PLC Makes New $6.15 Million Investment in SEI Investments Company $SEIC

Hsbc Holdings PLC acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 70,381 shares of the asset manager’s stock, valued at approximately $6,153,000. Hsbc Holdings PLC owned 0.06% of SEI Investments at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Elevation Wealth Partners LLC raised its holdings in shares of SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after purchasing an additional 152 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC boosted its holdings in 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 purchasing an additional 141 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Finally, Western Wealth Management LLC acquired a new stake in SEI Investments during the 1st quarter worth about $43,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the transaction, the chairman owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the transaction, the insider owned 921 shares in the company, valued at $94,264.35. This represents a 94.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 142,332 shares of company stock worth $13,745,813 in the last ninety days. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEIC. Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Piper Sandler lifted their price target on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.60.

SEI Investments Trading Up 0.3%

Shares of SEI Investments stock opened at $111.63 on Friday. The firm has a 50-day simple moving average of $100.09 and a two-hundred day simple moving average of $89.67. The company has a market cap of $13.40 billion, a P/E ratio of 19.69 and a beta of 0.96. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $112.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities analysts predict that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments 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.