Brokerages expect SEI Investments (NASDAQ:SEIC) to post earnings per share of $0.76 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for SEI Investments’ earnings, with estimates ranging from $0.75 to $0.77. SEI Investments reported earnings of $0.63 per share during the same quarter last year, which indicates a positive year over year growth rate of 20.6%. The company is scheduled to issue its next earnings results on Wednesday, October 24th.
On average, analysts expect that SEI Investments will report full year earnings of $3.15 per share for the current financial year, with EPS estimates ranging from $3.12 to $3.19. For the next year, analysts forecast that the business will post earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.47. Zacks Investment Research’s earnings per share averages are a mean 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 Thursday, July 19th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). SEI Investments had a return on equity of 29.98% and a net margin of 30.25%. The business had revenue of $404.80 million for the quarter, compared to analysts’ expectations of $405.58 million. During the same quarter last year, the business posted $0.57 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis.
Several research analysts have recently issued reports on the company. BidaskClub downgraded SEI Investments from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 4th. Mizuho restated a “buy” rating and issued a $85.00 price target on shares of SEI Investments in a report on Friday, July 20th. Finally, Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $78.75.
SEI Investments stock traded down $0.38 during midday trading on Friday, reaching $61.59. The company’s stock had a trading volume of 449,200 shares, compared to its average volume of 674,245. SEI Investments has a fifty-two week low of $55.78 and a fifty-two week high of $78.35. The company has a market cap of $9.91 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.14.
SEI Investments declared that its Board of Directors has approved a share buyback program on Wednesday, May 30th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, insider Joseph P. Ujobai sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $66.52, for a total value of $1,330,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Barr sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $59.14, for a total value of $1,478,500.00. Following the completion of the sale, the executive vice president now owns 69,134 shares of the company’s stock, valued at approximately $4,088,584.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,973 shares of company stock valued at $2,986,744. 16.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. HRT Financial LLC acquired a new position in shares of SEI Investments during the 2nd quarter valued at about $279,000. Bank of New York Mellon Corp lifted its position in shares of SEI Investments by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,810,809 shares of the asset manager’s stock worth $113,211,000 after acquiring an additional 32,568 shares during the period. Schroder Investment Management Group lifted its position in shares of SEI Investments by 676.0% in the 2nd quarter. Schroder Investment Management Group now owns 19,634 shares of the asset manager’s stock worth $1,233,000 after acquiring an additional 17,104 shares during the period. Advisors Asset Management Inc. lifted its position in shares of SEI Investments by 95.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 9,400 shares of the asset manager’s stock worth $588,000 after acquiring an additional 4,582 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of SEI Investments in the 2nd quarter worth approximately $457,000. 68.86% of the stock is owned by institutional investors and hedge funds.
SEI Investments Company Profile
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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