SEI Investments (NASDAQ:SEIC) Releases Earnings Results, Beats Estimates By $0.01 EPS

SEI Investments (NASDAQ:SEIC) released its quarterly earnings results on Wednesday. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01, Briefing.com reports. SEI Investments had a return on equity of 23.49% and a net margin of 25.44%. The business had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year.

SEI Investments Stock Down 0.3 %

Shares of SEIC opened at $66.07 on Friday. The company has a market capitalization of $8.68 billion, a PE ratio of 18.05, a P/E/G ratio of 1.32 and a beta of 0.99. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54. The company has a 50-day simple moving average of $66.35 and a 200-day simple moving average of $66.89.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, June 10th. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.78%. SEI Investments’s dividend payout ratio is 25.14%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director William Doran sold 5,000 shares of SEI Investments 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 directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 48,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the sale, the chairman now directly owns 7,677,471 shares in the company, valued at $522,759,000.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction, the director now 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. Over the last three months, insiders have sold 123,000 shares of company stock worth $8,406,920. 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.