SEI Investments (NASDAQ:SEIC) Expected to Announce Quarterly Sales of $412.86 Million

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Wall Street brokerages expect SEI Investments (NASDAQ:SEIC) to post $412.86 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for SEI Investments’ earnings, with the lowest sales estimate coming in at $411.87 million and the highest estimate coming in at $414.00 million. SEI Investments reported sales of $404.83 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The business is scheduled to issue its next earnings report on Thursday, July 18th.

According to Zacks, analysts expect that SEI Investments will report full year sales of $1.66 billion for the current year, with estimates ranging from $1.65 billion to $1.67 billion. For the next year, analysts forecast that the company will report sales of $1.75 billion, with estimates ranging from $1.72 billion to $1.80 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for SEI Investments.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.03). SEI Investments had a return on equity of 29.76% and a net margin of 29.64%. The firm had revenue of $400.82 million during the quarter, compared to the consensus estimate of $404.82 million. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis.

A number of analysts have recently commented on the company. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Keefe, Bruyette & Woods downgraded SEI Investments from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $56.00 to $64.00 in a research note on Sunday, April 14th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. William Blair reissued a “market perform” rating on shares of W W Grainger in a research note on Monday, April 22nd. Finally, ValuEngine raised China Southern Airlines from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.20.

Shares of SEIC traded up $0.78 during midday trading on Friday, reaching $56.88. The stock had a trading volume of 484,185 shares, compared to its average volume of 523,107. SEI Investments has a 52 week low of $42.27 and a 52 week high of $64.90. The company has a quick ratio of 5.68, a current ratio of 5.86 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $54.09. The firm has a market cap of $8.56 billion, a P/E ratio of 18.11, a P/E/G ratio of 1.47 and a beta of 1.27.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 12th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, June 11th. SEI Investments’s dividend payout ratio (DPR) is presently 21.02%.

In other news, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $51.96, for a total transaction of $259,800.00. Following the sale, the director now directly owns 10,681 shares of the company’s stock, valued at $554,984.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.60% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. raised its position in shares of SEI Investments by 7.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 22,584 shares of the asset manager’s stock worth $913,000 after purchasing an additional 1,600 shares during the period. Korea Investment CORP raised its position in SEI Investments by 27.4% during the fourth quarter. Korea Investment CORP now owns 325,100 shares of the asset manager’s stock valued at $15,020,000 after buying an additional 70,000 shares during the period. Advisor Group Inc. raised its position in SEI Investments by 11.5% during the fourth quarter. Advisor Group Inc. now owns 17,037 shares of the asset manager’s stock valued at $789,000 after buying an additional 1,757 shares during the period. Confluence Investment Management LLC raised its position in SEI Investments by 6.4% during the first quarter. Confluence Investment Management LLC now owns 333,970 shares of the asset manager’s stock valued at $17,450,000 after buying an additional 20,228 shares during the period. Finally, Two Sigma Investments LP raised its position in SEI Investments by 132.4% during the fourth quarter. Two Sigma Investments LP now owns 492,547 shares of the asset manager’s stock valued at $22,756,000 after buying an additional 280,615 shares during the period. 68.75% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

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.

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