Hsbc Holdings PLC Lowers Stake in SEI Investments (NASDAQ:SEIC)

Hsbc Holdings PLC trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,819 shares of the asset manager's stock after selling 38,830 shares during the quarter. Hsbc Holdings PLC owned approximately 0.28% of SEI Investments worth $30,027,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the 4th quarter worth $31,000. Allworth Financial LP increased its stake in shares of SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments in the 4th quarter worth $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after acquiring an additional 172 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEI Investments stock traded up $0.15 during trading hours on Thursday, hitting $78.44. The company had a trading volume of 97,316 shares, compared to its average volume of 651,777. The company's 50-day moving average is $75.01 and its two-hundred day moving average is $79.08. The company has a market cap of $9.86 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company's revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. Sell-side analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a stock buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares of the company's stock, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Insiders own 14.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SEIC. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Morgan Stanley restated an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Piper Sandler raised their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, SEI Investments presently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

About SEI Investments

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.