Analysts Expect SEI Investments Company (SEIC) Will Post Quarterly Sales of $385.81 Million
Analysts forecast that SEI Investments Company (NASDAQ:SEIC) will report sales of $385.81 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for SEI Investments’ earnings, with estimates ranging from $385.00 million to $386.94 million. SEI Investments posted sales of $354.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.8%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that SEI Investments will report full year sales of $385.81 million for the current fiscal year, with estimates ranging from $1.51 billion to $1.52 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.65 billion per share, with estimates ranging from $1.63 billion to $1.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover SEI Investments.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $372.30 million during the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS.
Several brokerages have recently issued reports on SEIC. Mizuho began coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 target price on the stock. Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. 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 report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $62.75.
Shares of SEI Investments (NASDAQ SEIC) opened at 63.50 on Wednesday. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 29.12 and a beta of 1.35. The firm has a 50-day moving average of $60.62 and a 200 day moving average of $55.38. SEI Investments has a 1-year low of $43.65 and a 1-year high of $64.08.
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In other news, Director William Doran sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. Following the completion of the transaction, the director now directly owns 671,015 shares of the company’s stock, valued at $38,576,652.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 10,836,282 shares of the company’s stock, valued at $611,166,304.80. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock valued at $18,540,250 over the last three months. 16.50% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 203 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock valued at $150,000 after buying an additional 2,424 shares during the last quarter. D.A. Davidson & CO. increased its holdings in SEI Investments by 9.3% during the second 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. Mosaic Family Wealth LLC increased its holdings in SEI Investments by 6.7% during the second 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. Finally, Wedbush Securities Inc. purchased a new stake in SEI Investments during the second quarter valued at approximately $208,000. 68.71% of the stock is owned by hedge funds and other institutional investors.
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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