SEI Investments (SEIC) to Release Earnings on Tuesday
SEI Investments (NASDAQ:SEIC) will release its earnings data after the market closes on Tuesday, January 23rd. Analysts expect SEI Investments to post earnings of $0.60 per share for the quarter.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. On average, analysts expect SEI Investments to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
SEI Investments (SEIC) opened at $76.65 on Tuesday. The firm has a market cap of $12,070.00, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 2.05 and a beta of 1.40. SEI Investments has a 12-month low of $47.88 and a 12-month high of $76.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41.
SEI Investments declared that its board has authorized a share buyback program on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have weighed in on SEIC. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating and set a $84.00 price target for the company in a research report on Friday, January 5th. Mizuho reiterated a “buy” rating and issued a $72.00 price target on shares of SEI Investments in a research report on Friday, November 17th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.25.
In related news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the sale, the insider now owns 10,619,272 shares of the company’s stock, valued at $686,429,742.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Wayne Withrow sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total transaction of $703,500.00. The disclosure for this sale can be found here. Insiders sold 136,250 shares of company stock worth $9,057,050 in the last three months. Insiders own 16.50% of the company’s stock.
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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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