SEI Investments (NASDAQ:SEIC) Issues Earnings Results

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings data on Wednesday. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01, Briefing.com reports. The business had revenue of $511.58 million for the quarter, compared to the consensus estimate of $510.41 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS.

SEI Investments Stock Down 0.6 %

SEIC traded down $0.40 during midday trading on Wednesday, hitting $66.60. 1,561,978 shares of the company traded hands, compared to its average volume of 577,191. The firm has a market capitalization of $8.76 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The company’s 50-day moving average is $68.55 and its 200 day moving average is $63.31. SEI Investments has a 52 week low of $52.19 and a 52 week high of $72.54.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Wayne Withrow sold 16,970 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the sale, the executive vice president now owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,333 shares of company stock worth $14,481,612. Company insiders own 15.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Piper Sandler upped their target price on shares of SEI Investments from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $70.25.

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.