Zacks: Brokerages Anticipate SEI Investments Company (SEIC) Will Announce Earnings of $0.57 Per Share
Wall Street analysts expect SEI Investments Company (NASDAQ:SEIC) to post $0.57 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for SEI Investments’ earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.57. SEI Investments reported earnings of $0.53 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is expected to issue its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that SEI Investments will report full year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.29. For the next fiscal year, analysts expect that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.55 to $2.66. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The business had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. During the same period in the prior year, the business posted $0.49 earnings per share. SEI Investments’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Thursday, July 27th. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. 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 research 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 company an “outperform” rating in a research report on Tuesday, July 11th. Finally, Mizuho assumed coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. SEI Investments presently has a consensus rating of “Buy” and an average target price of $59.75.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of SEI Investments stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $56.40, for a total value of $5,640,000.00. Following the sale, the insider now directly owns 10,836,282 shares in the company, valued at approximately $611,166,304.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph P. Ujobai sold 25,000 shares of SEI Investments stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $53.70, for a total transaction of $1,342,500.00. Following the completion of the sale, the insider now owns 37,540 shares in the company, valued at $2,015,898. The disclosure for this sale can be found here. Insiders sold a total of 280,000 shares of company stock worth $15,693,150 over the last quarter. Company insiders own 16.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of SEIC. Van ECK Associates Corp increased its stake in SEI Investments by 6.5% in the 1st quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock valued at $112,000 after buying an additional 136 shares during the last quarter. Pacer Advisors Inc. increased its stake in SEI Investments by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock valued at $125,000 after buying an additional 77 shares during the last quarter. Quantbot Technologies LP acquired a new stake in SEI Investments in the 1st quarter valued at $159,000. D.A. Davidson & CO. increased its stake in SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after buying an additional 253 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in SEI Investments by 6.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.
SEI Investments (NASDAQ SEIC) opened at 57.58 on Friday. The stock has a 50 day moving average of $56.64 and a 200-day moving average of $53.22. The firm has a market capitalization of $9.10 billion, a P/E ratio of 26.40 and a beta of 1.33. SEI Investments has a 1-year low of $43.54 and a 1-year high of $58.62.
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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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