$0.61 EPS Expected for SEI Investments Company (SEIC) This Quarter
Wall Street analysts expect that SEI Investments Company (NASDAQ:SEIC) will report earnings of $0.61 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for SEI Investments’ earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.60. SEI Investments reported earnings of $0.55 per share in the same quarter last year, which suggests a positive year over year growth rate of 10.9%. The company is expected to announce its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that SEI Investments will report full year earnings of $2.35 per share for the current year, with EPS estimates ranging from $2.34 to $2.36. For the next fiscal year, analysts expect that the business will report earnings of $2.70 per share, with EPS estimates ranging from $2.65 to $2.78. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The business had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, October 30th. Mizuho reiterated a “buy” rating and set a $65.00 price objective on shares of SEI Investments in a research report on Friday, October 20th. Oppenheimer Holdings, Inc. boosted their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.50.
SEI Investments (SEIC) traded down $0.05 during mid-day trading on Friday, reaching $64.68. 537,600 shares of the company’s stock were exchanged, compared to its average volume of 552,662. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. SEI Investments has a fifty-two week low of $44.64 and a fifty-two week high of $66.00. The company has a market capitalization of $10,185.35, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.38.
SEI Investments announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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In related news, Director William Doran sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the sale, the director now directly owns 671,015 shares of the company’s stock, valued at $38,576,652.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Meyer sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the completion of the sale, the insider now directly owns 113,224 shares of the company’s stock, valued at $6,964,408.24. The disclosure for this sale can be found here. Insiders have sold 157,500 shares of company stock valued at $9,772,250 over the last three months. Insiders own 16.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SEIC. BlackRock Inc. lifted its stake in SEI Investments by 5.5% in the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock worth $723,225,000 after acquiring an additional 697,125 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in SEI Investments by 47.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after acquiring an additional 615,539 shares during the period. Vanguard Group Inc. lifted its stake in SEI Investments by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock worth $713,155,000 after acquiring an additional 357,187 shares during the period. Frontier Capital Management Co. LLC lifted its stake in SEI Investments by 51.2% in the third quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock worth $59,130,000 after acquiring an additional 328,037 shares during the period. Finally, Prudential Financial Inc. lifted its stake in SEI Investments by 88.3% in the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock worth $31,123,000 after acquiring an additional 239,000 shares during the period. 69.25% of the stock is owned by institutional investors.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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