SEI Investments (SEIC) Announces Earnings Results

Share on StockTwits

SEI Investments (NASDAQ:SEIC) released its quarterly earnings results on Wednesday. The asset manager reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.03), Briefing.com reports. SEI Investments had a net margin of 31.15% and a return on equity of 31.48%. The firm had revenue of $400.82 million for the quarter, compared to the consensus estimate of $404.82 million. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis.

NASDAQ:SEIC traded down $4.53 during mid-day trading on Thursday, hitting $52.47. The company’s stock had a trading volume of 68,919 shares, compared to its average volume of 616,581. SEI Investments has a fifty-two week low of $42.27 and a fifty-two week high of $69.58. The firm has a market capitalization of $8.76 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.24.

A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods cut shares of SEI Investments from an “outperform” rating to a “market perform” rating and increased their target price for the company from $56.00 to $64.00 in a research note on Sunday, April 14th. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Friday, April 12th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research note on Monday. Finally, BidaskClub upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. SEI Investments has an average rating of “Hold” and a consensus target price of $66.20.

In related news, EVP Wayne Withrow sold 15,500 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $50.00, for a total value of $775,000.00. Following the completion of the transaction, the executive vice president now owns 32,014 shares of the company’s stock, valued at $1,600,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Klauder sold 7,500 shares of the stock in a transaction dated Tuesday, March 19th. The stock was 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 directly owns 24,841 shares of the company’s stock, valued at approximately $1,313,840.49. The disclosure for this sale can be found here. Insiders sold 307,103 shares of company stock valued at $16,143,042 in the last three months. Company insiders own 17.30% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. raised its position in SEI Investments by 7.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 22,584 shares of the asset manager’s stock worth $913,000 after purchasing an additional 1,600 shares in the last quarter. Korea Investment CORP raised its position in SEI Investments by 27.4% in the fourth quarter. Korea Investment CORP now owns 325,100 shares of the asset manager’s stock worth $15,020,000 after purchasing an additional 70,000 shares in the last quarter. Advisor Group Inc. raised its position in SEI Investments by 11.5% in the fourth quarter. Advisor Group Inc. now owns 17,037 shares of the asset manager’s stock worth $789,000 after purchasing an additional 1,757 shares in the last quarter. Two Sigma Investments LP raised its position in SEI Investments by 132.4% in the fourth quarter. Two Sigma Investments LP now owns 492,547 shares of the asset manager’s stock worth $22,756,000 after purchasing an additional 280,615 shares in the last quarter. Finally, BB&T Corp raised its position in SEI Investments by 0.8% in the fourth quarter. BB&T Corp now owns 99,424 shares of the asset manager’s stock worth $4,593,000 after purchasing an additional 808 shares in the last quarter. 69.39% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Macon Daily and is the property of of Macon Daily. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://macondaily.com/2019/04/25/sei-investments-seic-announces-earnings-results.html.

SEI Investments Company Profile

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.

Read More: Return On Assets

Earnings History for SEI Investments (NASDAQ:SEIC)

Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.