Analysts Expect SEI Investments Company (SEIC) to Post $0.57 Earnings Per Share
Equities research analysts forecast that SEI Investments Company (NASDAQ:SEIC) will announce earnings per share (EPS) of $0.57 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SEI Investments’ earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.58. SEI Investments posted earnings of $0.53 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The firm is expected to issue its next earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that SEI Investments will report full-year earnings of $2.29 per share for the current year, with EPS estimates ranging from $2.28 to $2.30. For the next financial year, analysts anticipate that the company will post earnings of $2.65 per share, with EPS estimates ranging from $2.60 to $2.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $372.30 million during the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS.
Several equities research analysts recently commented on SEIC shares. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a report on Thursday, July 27th. Mizuho reaffirmed a “buy” rating and issued a $65.00 price target on shares of SEI Investments in a report on Friday. Oppenheimer Holdings, Inc. increased their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $62.75.
Shares of SEI Investments (NASDAQ:SEIC) traded down 1.60% during trading on Monday, hitting $62.68. The stock had a trading volume of 770,244 shares. The firm has a market cap of $9.91 billion, a price-to-earnings ratio of 28.74 and a beta of 1.35. SEI Investments has a 52-week low of $43.65 and a 52-week high of $64.08. The firm’s 50-day moving average is $60.40 and its 200 day moving average is $55.13.
In related news, insider N Jeffrey Klauder sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $56.35, for a total value of $1,690,500.00. Following the completion of the transaction, the insider now directly owns 82,194 shares in the company, valued at $4,631,631.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Doran sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 671,015 shares of the company’s stock, valued at $38,576,652.35. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $18,540,250 over the last quarter. 16.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new position in SEI Investments in the third quarter worth approximately $287,000. BB&T Corp grew its position in SEI Investments by 5.1% in the third quarter. BB&T Corp now owns 90,811 shares of the asset manager’s stock worth $5,545,000 after acquiring an additional 4,386 shares during the period. APG Asset Management N.V. grew its position in SEI Investments by 82.0% in the third quarter. APG Asset Management N.V. now owns 61,690 shares of the asset manager’s stock worth $3,767,000 after acquiring an additional 27,800 shares during the period. Oakbrook Investments LLC purchased a new position in SEI Investments in the third quarter worth approximately $760,000. Finally, Meeder Asset Management Inc. grew its position in SEI Investments by 7,575.0% in the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after acquiring an additional 2,424 shares during the period. Institutional investors own 68.65% of the company’s stock.
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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