SEI Investments FY2024 EPS Estimate Cut by William Blair

SEI Investments (NASDAQ:SEIC) – Stock analysts at William Blair lowered their FY2024 earnings estimates for SEI Investments in a research report issued on Monday, January 13th. William Blair analyst J. Schmitt now forecasts that the asset manager will post earnings of $4.47 per share for the year, down from their prior forecast of $4.52. The consensus estimate for SEI Investments’ current full-year earnings is $4.42 per share. William Blair also issued estimates for SEI Investments’ Q4 2024 earnings at $1.24 EPS, FY2025 earnings at $4.95 EPS and FY2026 earnings at $5.35 EPS.

Several other analysts also recently issued reports on the company. Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods raised their target price on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Piper Sandler upped their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Oppenheimer lifted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average price target of $86.75.

SEI Investments Stock Up 1.3 %

Shares of NASDAQ SEIC opened at $81.88 on Thursday. The firm’s 50-day moving average price is $82.24 and its two-hundred day moving average price is $73.26. SEI Investments has a 52-week low of $62.34 and a 52-week high of $87.25. The stock has a market capitalization of $10.56 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.34 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the business posted $0.87 EPS. The company’s quarterly revenue was up 12.7% on a year-over-year basis.

Institutional Investors Weigh In On SEI Investments

Several hedge funds and other institutional investors have recently bought and sold shares of SEIC. American Century Companies Inc. grew its stake in shares of SEI Investments by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 311,459 shares of the asset manager’s stock worth $20,148,000 after purchasing an additional 21,632 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in SEI Investments by 8.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,900 shares of the asset manager’s stock worth $444,000 after buying an additional 525 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in SEI Investments by 16.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 17,214 shares of the asset manager’s stock worth $1,114,000 after buying an additional 2,380 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of SEI Investments by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after buying an additional 4,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after acquiring an additional 222,631 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the transaction, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock worth $19,753,402 over the last ninety days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.