SEI Investments (SEIC) Set to Announce Quarterly Earnings on Thursday

SEI Investments (NASDAQ:SEIC) will post its quarterly earnings results on Thursday, April 18th.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. The company had revenue of $484.86 million for the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, analysts expect SEI Investments to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

SEI Investments Price Performance

NASDAQ:SEIC traded down $0.33 during trading hours on Wednesday, hitting $66.08. 532,072 shares of the company were exchanged, compared to its average volume of 562,860. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.37 and a beta of 1.02. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54. The company’s 50 day moving average price is $68.54 and its 200-day moving average price is $63.01.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sanjay Sharma sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the completion of the sale, the insider now owns 16,895 shares in the company, valued at approximately $1,135,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s 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 sale, the chairman now owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. Insiders have sold 206,333 shares of company stock valued at $14,481,612 in the last ninety days. 15.50% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in SEI Investments by 19.8% in the 1st quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock valued at $1,337,000 after buying an additional 3,666 shares during the period. Private Advisor Group LLC lifted its position in SEI Investments by 15.3% in the first quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 639 shares during the last quarter. Bank of Montreal Can lifted its position in SEI Investments by 18.5% in the first quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock valued at $6,230,000 after acquiring an additional 15,773 shares during the last quarter. Panagora Asset Management Inc. lifted its position in SEI Investments by 11.3% in the first quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock valued at $1,151,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SEI Investments by 9.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock valued at $2,322,000 after acquiring an additional 3,424 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research analyst reports. Oppenheimer boosted their target price on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Piper Sandler lifted their price objective on shares of SEI Investments from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.