Analysts Expect SEI Investments Company (SEIC) Will Post Quarterly Sales of $384.71 Million
Wall Street brokerages expect SEI Investments Company (NASDAQ:SEIC) to announce sales of $384.71 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for SEI Investments’ earnings. The lowest sales estimate is $383.00 million and the highest is $387.82 million. SEI Investments reported sales of $354.64 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.5%. The business is scheduled to announce its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that SEI Investments will report full-year sales of $384.71 million for the current year, with estimates ranging from $1.51 billion to $1.52 billion. For the next year, analysts forecast that the business will report sales of $1.64 billion per share, with estimates ranging from $1.62 billion to $1.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover SEI Investments.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS.
A number of research firms recently commented on SEIC. BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. boosted their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Finally, Mizuho initiated coverage on shares of SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.75.
In other news, major shareholder Alfred P. West, Jr. sold 84,116 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $51.92, for a total value of $4,367,302.72. Following the completion of the transaction, the insider now owns 10,952,166 shares of the company’s stock, valued at $568,636,458.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Alfred P. West, Jr. sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the completion of the transaction, the insider now directly owns 10,836,282 shares of the company’s stock, valued at approximately $611,166,304.80. The disclosure for this sale can be found here. In the last three months, insiders sold 382,500 shares of company stock valued at $20,982,527. Company insiders own 17.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Loomis Sayles & Co. L P raised its position in SEI Investments by 1.2% in the first quarter. Loomis Sayles & Co. L P now owns 14,210,594 shares of the asset manager’s stock worth $716,782,000 after buying an additional 163,767 shares in the last quarter. BlackRock Inc. raised its position 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 buying an additional 697,125 shares in the last quarter. Vanguard Group Inc. raised its position 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 buying an additional 357,187 shares in the last quarter. Boston Partners raised its position in SEI Investments by 12.8% in the first quarter. Boston Partners now owns 2,990,529 shares of the asset manager’s stock worth $150,843,000 after buying an additional 339,121 shares in the last quarter. Finally, Northern Trust Corp raised its position in SEI Investments by 1.3% in the second quarter. Northern Trust Corp now owns 1,416,259 shares of the asset manager’s stock worth $76,167,000 after buying an additional 17,776 shares in the last quarter. 70.07% of the stock is owned by institutional investors and hedge funds.
SEI Investments (SEIC) traded up 0.45% during trading on Friday, hitting $55.71. The stock had a trading volume of 334,407 shares. The company’s 50 day moving average is $55.24 and its 200 day moving average is $51.99. The firm has a market cap of $8.81 billion, a PE ratio of 25.54 and a beta of 1.33. SEI Investments has a 52-week low of $42.90 and a 52-week high of $57.50.
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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