Equities research analysts expect SEI Investments (NASDAQ:SEIC) to post $407.65 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for SEI Investments’ earnings. The highest sales estimate is $411.74 million and the lowest is $405.20 million. SEI Investments posted sales of $386.02 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is expected to report its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that SEI Investments will report full-year sales of $1.63 billion for the current financial year, with estimates ranging from $1.62 billion to $1.64 billion. For the next financial year, analysts anticipate that the company will post sales of $1.70 billion per share, with estimates ranging from $1.67 billion to $1.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SEI Investments.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Thursday, July 19th. The asset manager reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.01). SEI Investments had a return on equity of 29.98% and a net margin of 30.25%. The firm had revenue of $404.80 million during the quarter, compared to the consensus estimate of $405.58 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year.
SEIC has been the topic of several research reports. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. BidaskClub downgraded shares of SEI Investments from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 4th. Finally, Mizuho reiterated a “buy” rating and set a $85.00 price target on shares of SEI Investments in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. SEI Investments presently has a consensus rating of “Hold” and an average price target of $75.00.
In related news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $66.52, for a total value of $1,330,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kevin Barr sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $59.14, for a total transaction of $1,478,500.00. Following the completion of the sale, the executive vice president now owns 69,134 shares in the company, valued at $4,088,584.76. The disclosure for this sale can be found here. Insiders sold a total of 47,973 shares of company stock worth $2,986,744 over the last quarter. 17.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC bought a new stake in SEI Investments during the 2nd quarter worth approximately $100,000. Private Capital Group LLC increased its stake in SEI Investments by 1,562.0% during the 1st quarter. Private Capital Group LLC now owns 1,662 shares of the asset manager’s stock worth $125,000 after purchasing an additional 1,562 shares in the last quarter. IFP Advisors Inc increased its stake in SEI Investments by 135.3% during the 1st quarter. IFP Advisors Inc now owns 1,746 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,004 shares in the last quarter. Cerebellum GP LLC increased its stake in SEI Investments by 2,524.0% during the 2nd quarter. Cerebellum GP LLC now owns 2,729 shares of the asset manager’s stock worth $171,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank bought a new stake in SEI Investments during the 1st quarter worth approximately $208,000. 69.13% of the stock is owned by institutional investors and hedge funds.
NASDAQ SEIC traded down $0.02 on Friday, hitting $61.35. 480,200 shares of the company were exchanged, compared to its average volume of 684,201. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.15. SEI Investments has a 1-year low of $55.72 and a 1-year high of $78.35.
SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
About SEI Investments
SEI Investments Co 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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