SEI Investments Company $SEIC Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in SEI Investments by 53.8% in the first quarter, selling 97,252 shares and leaving it with 83,464 shares valued at about $6.57 million.
• SEI Investments reported strong Q2 results, with EPS of $1.66 beating estimates and revenue of $641.62 million also topping expectations; revenue rose 14.7% year over year.
• Analysts remain upbeat on the stock, with several firms raising price targets and the consensus rating sitting at “Moderate Buy” with an average target price of $122.60.

Hsbc Holdings PLC reduced its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,464 shares of the asset manager's stock after selling 97,252 shares during the period. Hsbc Holdings PLC owned about 0.07% of SEI Investments worth $6,566,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Peterson Wealth Services boosted its holdings in SEI Investments by 26.2% in the first quarter. Peterson Wealth Services now owns 2,213 shares of the asset manager's stock worth $174,000 after purchasing an additional 460 shares during the period. Oregon Public Employees Retirement Fund increased its stake in SEI Investments by 2.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 19,086 shares of the asset manager's stock valued at $1,498,000 after purchasing an additional 500 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of SEI Investments by 7.0% during the first quarter. Kathmere Capital Management LLC now owns 99,485 shares of the asset manager's stock worth $7,807,000 after purchasing an additional 6,551 shares during the period. NBT Bank N A NY raised its holdings in shares of SEI Investments by 3,657.3% during the first quarter. NBT Bank N A NY now owns 3,081 shares of the asset manager's stock worth $242,000 after purchasing an additional 2,999 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of SEI Investments by 15.5% in the 1st quarter. QRG Capital Management Inc. now owns 3,880 shares of the asset manager's stock worth $304,000 after buying an additional 521 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SEIC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a report on Thursday. Raymond James Financial lifted their target price on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Morgan Stanley upped their target price on SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday. Finally, UBS Group reiterated a "buy" rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $122.60.

SEI Investments Stock Down 2.0%

SEIC stock opened at $96.73 on Friday. 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 fifty-two week low of $75.08 and a fifty-two week high of $102.29. The firm's 50-day simple moving average is $91.54 and its 200 day simple moving average is $86.04. The stock has a market cap of $11.63 billion, a PE ratio of 17.06 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. The firm had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.42%. SEI Investments's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. As a group, sell-side analysts predict that SEI Investments Company will post 5.98 EPS for the current year.

SEI Investments Dividend Announcement

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

Key Stories Impacting SEI Investments

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

Insider Activity

In other news, insider Mark Andrew Warner sold 4,000 shares of the business's 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. The trade was a 81.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the director owned 77,883 shares in the company, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 71,332 shares of company stock valued at $6,278,583. Insiders own 4.80% of the company's stock.

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.

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