SEI Investments (NASDAQ:SEIC) Announces Earnings Results

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.06, FiscalAI reports. The business had revenue of $662.04 million for the quarter, compared to analysts’ expectations of $656.25 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%.

SEI Investments Stock Up 1.2%

SEIC stock traded up $1.28 during mid-day trading on Wednesday, reaching $108.43. The company had a trading volume of 643,227 shares, compared to its average volume of 786,904. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company has a market capitalization of $13.01 billion, a price-to-earnings ratio of 19.12 and a beta of 0.97. The firm has a fifty day simple moving average of $106.46 and a 200 day simple moving average of $96.50. SEI Investments has a fifty-two week low of $75.08 and a fifty-two week high of $112.15.

Wall Street Analyst Weigh In

Several research firms have recently commented on SEIC. William Blair raised shares of SEI Investments from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wells Fargo & Company started coverage on shares of SEI Investments in a report on Friday, October 2nd. They set an “overweight” rating and a $129.00 target price on the stock. Piper Sandler raised their price target on shares of SEI Investments from $120.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $124.83.

Insiders Place Their Bets

In other news, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Warner sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the sale, the insider owned 921 shares in the company, valued at $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 158,777 shares of company stock worth $16,642,433. Corporate insiders own 4.80% of the company’s stock.

About SEI Investments

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.