SEI Investments Company (SEIC) Expected to Announce Quarterly Sales of $385.08 Million
Analysts expect that SEI Investments Company (NASDAQ:SEIC) will post sales of $385.08 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for SEI Investments’ earnings, with estimates ranging from $383.30 million to $386.94 million. SEI Investments reported sales of $354.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that SEI Investments will report full-year sales of $385.08 million for the current year, with estimates ranging from $1.51 billion to $1.52 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.64 billion per share, with estimates ranging from $1.62 billion to $1.67 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow SEI Investments.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, beating 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 company had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. During the same quarter last year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year.
Several equities research analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Mizuho started coverage on SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. increased their price target on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.50.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the transaction, the insider now owns 10,836,282 shares in the company, valued at approximately $611,166,304.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Doran sold 10,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. Following the transaction, the director now owns 671,015 shares in the company, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 325,000 shares of company stock worth $18,540,250. 16.50% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in SEI Investments by 32.2% during the 1st quarter. JPMorgan Chase & Co. now owns 320,687 shares of the asset manager’s stock worth $16,176,000 after buying an additional 78,158 shares during the period. Confluence Investment Management LLC increased its position in SEI Investments by 4.2% during the 2nd quarter. Confluence Investment Management LLC now owns 268,543 shares of the asset manager’s stock worth $14,442,000 after buying an additional 10,744 shares during the period. UBS Asset Management Americas Inc. increased its position in SEI Investments by 2.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after buying an additional 17,422 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in SEI Investments by 1.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock worth $21,339,000 after buying an additional 6,325 shares during the period. Finally, Wedbush Securities Inc. bought a new position in SEI Investments during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 68.65% of the company’s stock.
SEI Investments (NASDAQ SEIC) opened at 62.66 on Friday. The stock has a 50 day moving average of $58.36 and a 200-day moving average of $54.13. SEI Investments has a 52-week low of $43.54 and a 52-week high of $62.90. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 28.73 and a beta of 1.35.
SEI Investments Company Profile
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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