Hsbc Holdings PLC Has $27.20 Million Position in SEI Investments Company $SEIC

Key Points

• Hsbc Holdings PLC reduced its stake in SEI Investments Company by 3.7%, owning 0.28% of the firm worth approximately $27.2 million after selling 13,305 shares in the first quarter.
• In a recent earnings report, SEI Investments surpassed consensus estimates with earnings of $1.78 per share, up from $1.05 in the same period last year, and reported revenue growth of 7.8% year-over-year.
• The company increased its quarterly dividend to $0.49 per share, reflecting a positive change from the previous dividend of $0.46, with an annualized dividend yield of 2.2%.

Hsbc Holdings PLC trimmed its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 350,514 shares of the asset manager's stock after selling 13,305 shares during the quarter. Hsbc Holdings PLC owned about 0.28% of SEI Investments worth $27,200,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc increased its position in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. increased its position in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after acquiring an additional 225 shares during the period. Farther Finance Advisors LLC increased its position in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares during the period. Cullen Frost Bankers Inc. increased its position in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in SEI Investments during the first quarter worth about $132,000. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 35,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 14.60% of the company's stock.

SEI Investments Trading Down 1.1%

SEI Investments stock traded down $1.00 during trading hours on Thursday, reaching $89.53. 141,655 shares of the stock were exchanged, compared to its average volume of 835,745. The company has a market cap of $11.07 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a 50 day moving average of $89.48 and a two-hundred day moving average of $82.59.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million for the quarter, compared to the consensus estimate of $550.72 million. During the same period in the prior year, the company posted $1.05 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SEIC. Piper Sandler lowered their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Raymond James Financial raised their price target on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

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.