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

SEI Investments (NASDAQ:SEIC) posted its quarterly earnings data on Wednesday. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01, Briefing.com reports. SEI Investments had a net margin of 25.44% and a return on equity of 23.49%. The company had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

SEI Investments Trading Up 1.3 %

SEI Investments stock traded up $0.87 during mid-day trading on Friday, reaching $66.94. The company’s stock had a trading volume of 259,949 shares, compared to its average volume of 591,219. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.32 and a beta of 0.99. The business has a 50 day moving average price of $66.35 and a 200-day moving average price of $66.89. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, June 10th. This is an increase from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s payout ratio is currently 25.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SEIC. Piper Sandler decreased their price target on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday. Finally, Oppenheimer raised 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.25.

Insiders Place Their Bets

In other SEI Investments news, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 70,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $68.62, for a total value of $4,803,400.00. Following the sale, the chairman now directly owns 7,795,471 shares in the company, valued at $534,925,220.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Doran sold 5,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares in the company, valued at $44,004,117.44. The disclosure for this sale can be found here. Insiders sold a total of 123,000 shares of company stock valued at $8,406,920 over the last 90 days. 14.30% of the stock is owned by company insiders.

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.