SEI Investments (NASDAQ:SEIC) Announces Earnings Results

SEI Investments (NASDAQ:SEIC) posted its quarterly earnings data on Wednesday. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15, Zacks reports. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis.

SEI Investments Trading Up 2.0%

NASDAQ:SEIC opened at $84.79 on Thursday. SEI Investments has a 1-year low of $72.21 and a 1-year high of $93.96. The business’s 50-day moving average price is $79.34 and its two-hundred day moving average price is $81.86. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 15.06 and a beta of 0.94.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research note on Monday, January 5th. UBS Group initiated coverage on SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on SEI Investments from $107.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Piper Sandler cut their price target on SEI Investments from $106.00 to $99.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, SEI Investments presently has an average rating of “Moderate Buy” and an average price target of $105.83.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 80,000 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the transaction, the chief executive officer owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the transaction, the insider directly owned 921 shares in the company, valued at $75,282.54. The trade was a 81.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 146,447 shares of company stock valued at $12,318,659. 14.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in the stock. Compound Planning Inc. lifted its stake in SEI Investments by 7.7% in the fourth quarter. Compound Planning Inc. now owns 2,569 shares of the asset manager’s stock valued at $211,000 after buying an additional 184 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in SEI Investments by 28.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 22,826 shares of the asset manager’s stock valued at $1,872,000 after buying an additional 5,094 shares during the period. Caitlin John LLC lifted its stake in SEI Investments by 5,301.8% in the fourth quarter. Caitlin John LLC now owns 5,942 shares of the asset manager’s stock valued at $487,000 after buying an additional 5,832 shares during the period. Front Street Capital Management Inc. acquired a new position in SEI Investments in the fourth quarter valued at about $93,000. Finally, Vident Advisory LLC lifted its stake in SEI Investments by 1.8% in the fourth quarter. Vident Advisory LLC now owns 57,655 shares of the asset manager’s stock valued at $4,729,000 after buying an additional 999 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.