SEI Investments (NASDAQ:SEIC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

SEI Investments Trading Down 0.6 %

SEIC opened at $66.60 on Thursday. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The company has a market capitalization of $8.76 billion, a PE ratio of 19.25, a PEG ratio of 1.37 and a beta of 1.02. The firm’s 50 day simple moving average is $68.55 and its two-hundred day simple moving average is $63.31.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEIC. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Piper Sandler raised their target price on shares of SEI Investments from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Finally, Oppenheimer increased their price target 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. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.25.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $72.14, for a total value of $1,396,846.82. Following the transaction, the chairman now directly owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction 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 sale, the chairman now directly 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 the SEC website. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the sale, the chairman now owns 7,884,834 shares in the company, valued at $557,852,005.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,333 shares of company stock worth $14,481,612. Company insiders own 15.50% of the company’s stock.

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.