SEI Investments Co. (SEIC) to Release Earnings on Thursday
SEI Investments Co. (NASDAQ:SEIC) is set to announce its earnings results after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $0.49 per share for the quarter.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. The business earned $343.83 million during the quarter, compared to analyst estimates of $346.92 million. SEI Investments had a return on equity of 24.48% and a net margin of 23.67%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts expect SEI Investments to post $1.93 EPS for the current fiscal year and $2.25 EPS for the next fiscal year.
Shares of SEI Investments Co. (NASDAQ:SEIC) opened at 44.44 on Wednesday. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 23.15 and a beta of 1.26. SEI Investments Co. has a 1-year low of $32.01 and a 1-year high of $55.11. The stock has a 50 day moving average of $45.27 and a 200-day moving average of $47.29.
SEIC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Keefe, Bruyette & Woods decreased their price target on shares of SEI Investments from $51.00 to $47.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. decreased their price target on shares of SEI Investments from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th.
In other news, major shareholder Alfred P. West, Jr. sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $44.98, for a total transaction of $4,048,200.00. Following the completion of the sale, the insider now owns 11,641,864 shares in the company, valued at approximately $523,651,042.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.10% of the company’s stock.
Several hedge funds have recently modified their holdings of SEIC. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of SEI Investments by 24.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,400 shares of the company’s stock valued at $645,000 after buying an additional 2,600 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of SEI Investments during the second quarter worth approximately $214,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of SEI Investments by 0.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 101,740 shares of the company’s stock worth $4,895,000 after buying an additional 620 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of SEI Investments during the second quarter worth approximately $351,000. Finally, Zacks Investment Management acquired a new position in shares of SEI Investments during the second quarter worth approximately $207,000. Institutional investors and hedge funds own 70.27% of the company’s stock.
About SEI Investments
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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