SEI Investments (NASDAQ:SEIC) Announces Quarterly Earnings Results, Beats Estimates 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, topping the consensus estimate of $1.04 by $0.01, Briefing.com reports. The firm had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a return on equity of 23.49% and a net margin of 25.44%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS.

SEI Investments Stock Up 0.4 %

Shares of NASDAQ SEIC traded up $0.29 during trading on Friday, reaching $66.36. The company had a trading volume of 82,282 shares, compared to its average volume of 589,976. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54. The stock has a market cap of $8.72 billion, a P/E ratio of 18.05, a PEG ratio of 1.32 and a beta of 0.99. The company’s fifty day moving average price is $66.35 and its 200-day moving average price is $66.89.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were paid a $0.46 dividend. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.84 annualized dividend and a dividend yield of 2.77%. SEI Investments’s payout ratio is currently 25.14%.

Insider Buying and Selling

In other SEI Investments news, Director William Doran sold 5,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the sale, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the completion of the sale, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at approximately $522,759,000.39. The sale was disclosed in a filing 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 that occurred 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 directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders have sold a total of 123,000 shares of company stock valued at $8,406,920 over the last ninety days. 14.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday. Finally, Piper Sandler cut their price objective on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average target price of $71.25.

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.