Hsbc Holdings PLC Takes $6.15 Million Position in SEI Investments Company $SEIC

Hsbc Holdings PLC bought a new position in shares of SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,381 shares of the asset manager’s stock, valued at approximately $6,153,000.

Other hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its stake in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in SEI Investments by 353.1% during 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 increased its stake in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after buying an additional 141 shares in the last quarter. CX Institutional raised its holdings in shares of SEI Investments by 44.6% during the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 164 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SEIC shares. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. UBS Group reaffirmed a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Finally, Raymond James Financial upped 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. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average target price of $122.60.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the transaction, the insider directly owned 921 shares in the company, valued at $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the transaction, the director directly owned 77,883 shares in the company, valued at approximately $8,063,226.99. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 142,332 shares of company stock valued at $13,745,813 over the last quarter. 4.80% of the stock is owned by corporate insiders.

SEI Investments Stock Up 0.3%

Shares of NASDAQ SEIC opened at $111.63 on Friday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $112.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The company has a market capitalization of $13.40 billion, a P/E ratio of 19.69 and a beta of 0.96. The company has a 50 day simple moving average of $100.09 and a 200-day simple moving average of $89.67.

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

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.