Zacks: Analysts Expect SEI Investments (SEIC) to Announce $0.76 EPS
Brokerages expect that SEI Investments (NASDAQ:SEIC) will report earnings of $0.76 per share for the current quarter, according to Zacks. Three analysts have provided estimates for SEI Investments’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.77. SEI Investments reported earnings per share of $0.63 during the same quarter last year, which would suggest a positive year over year growth rate of 20.6%. The firm is scheduled to announce its next earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that SEI Investments will report full-year earnings of $3.15 per share for the current fiscal year, with EPS estimates ranging from $3.12 to $3.19. For the next year, analysts expect that the business will post earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.47. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow SEI Investments.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The business had revenue of $404.80 million during the quarter, compared to the consensus estimate of $405.58 million. SEI Investments had a net margin of 30.25% and a return on equity of 29.98%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.
NASDAQ:SEIC traded up $0.47 during trading on Wednesday, reaching $62.21. The company’s stock had a trading volume of 80,201 shares, compared to its average volume of 622,966. The company has a market capitalization of $9.68 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. SEI Investments has a 12 month low of $58.15 and a 12 month high of $78.35.
SEI Investments declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 30th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Kevin Barr sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $59.14, for a total transaction of $1,478,500.00. Following the transaction, the executive vice president now owns 69,134 shares of the company’s stock, valued at approximately $4,088,584.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dennis Mcgonigle sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $62.83, for a total value of $942,450.00. Following the transaction, the insider now directly owns 27,540 shares in the company, valued at approximately $1,730,338.20. The disclosure for this sale can be found here. Insiders have sold a total of 42,973 shares of company stock worth $2,598,794 in the last ninety days. Insiders own 17.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SEIC. Millennium Management LLC lifted its position in shares of SEI Investments by 111.3% during the 2nd quarter. Millennium Management LLC now owns 837,744 shares of the asset manager’s stock valued at $52,376,000 after buying an additional 441,285 shares during the last quarter. Prana Capital Management LP purchased a new stake in SEI Investments during the 2nd quarter worth about $20,768,000. BlackRock Inc. lifted its holdings in SEI Investments by 2.3% during the 2nd quarter. BlackRock Inc. now owns 13,385,091 shares of the asset manager’s stock worth $836,835,000 after purchasing an additional 298,517 shares in the last quarter. Natixis lifted its holdings in SEI Investments by 5,554.5% during the 1st quarter. Natixis now owns 285,550 shares of the asset manager’s stock worth $21,391,000 after purchasing an additional 280,500 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in SEI Investments by 30.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,674 shares of the asset manager’s stock worth $70,940,000 after purchasing an additional 268,000 shares in the last quarter. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
About SEI Investments
SEI Investments Co 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.
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