Wall Street brokerages predict that SEI Investments (NASDAQ:SEIC) will announce sales of $412.86 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings. The lowest sales estimate is $411.87 million and the highest is $414.00 million. SEI Investments reported sales of $404.83 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is expected to issue its next quarterly earnings results on Thursday, July 18th.
On average, analysts expect that SEI Investments will report full year sales of $1.66 billion for the current financial year, with estimates ranging from $1.65 billion to $1.67 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.75 billion, with estimates ranging from $1.72 billion to $1.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow SEI Investments.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.03). SEI Investments had a return on equity of 29.76% and a net margin of 29.64%. The company had revenue of $400.82 million for the quarter, compared to the consensus estimate of $404.82 million. During the same quarter in the prior year, the company posted $0.86 EPS. SEI Investments’s revenue was down 1.2% compared to the same quarter last year.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Friday, April 12th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods lowered shares of SEI Investments from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $56.00 to $64.00 in a research report on Sunday, April 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. SEI Investments currently has an average rating of “Hold” and a consensus target price of $66.20.
In other SEI Investments news, insider Paul Klauder sold 7,500 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $52.89, for a total transaction of $396,675.00. Following the completion of the transaction, the insider now owns 24,841 shares in the company, valued at $1,313,840.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $51.96, for a total transaction of $259,800.00. Following the transaction, the director now owns 10,681 shares of the company’s stock, valued at approximately $554,984.76. The disclosure for this sale can be found here. 22.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. ETF Managers Group LLC raised its stake in shares of SEI Investments by 11.9% in the first quarter. ETF Managers Group LLC now owns 1,927 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 205 shares during the period. Mason Street Advisors LLC raised its stake in shares of SEI Investments by 0.3% in the first quarter. Mason Street Advisors LLC now owns 68,651 shares of the asset manager’s stock valued at $3,587,000 after acquiring an additional 214 shares during the period. BOKF NA raised its stake in shares of SEI Investments by 1.1% in the fourth quarter. BOKF NA now owns 24,148 shares of the asset manager’s stock valued at $1,116,000 after acquiring an additional 251 shares during the period. Magnus Financial Group LLC raised its stake in shares of SEI Investments by 4.7% in the first quarter. Magnus Financial Group LLC now owns 6,119 shares of the asset manager’s stock valued at $320,000 after acquiring an additional 276 shares during the period. Finally, Global Retirement Partners LLC raised its stake in shares of SEI Investments by 67.9% in the fourth quarter. Global Retirement Partners LLC now owns 764 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 309 shares during the period. 68.76% of the stock is currently owned by institutional investors and hedge funds.
SEIC stock opened at $53.88 on Thursday. SEI Investments has a 52 week low of $42.27 and a 52 week high of $66.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.86 and a quick ratio of 5.68. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $1.32 annualized dividend and a yield of 2.45%. SEI Investments’s dividend payout ratio (DPR) is currently 21.02%.
About SEI Investments
SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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