SEI Investments (NASDAQ:SEIC) Releases Earnings Results, Misses Estimates By $0.02 EPS

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02), Zacks reports. SEI Investments had a return on equity of 25.41% and a net margin of 27.35%.

SEI Investments Trading Down 0.4 %

Shares of NASDAQ:SEIC traded down $0.34 during trading on Friday, reaching $85.69. 65,501 shares of the company traded hands, compared to its average volume of 548,602. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The business’s fifty day moving average is $83.05 and its 200-day moving average is $74.68. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.41 and a beta of 0.98.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 22.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer increased their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SEI Investments presently has an average rating of “Hold” and an average price target of $90.00.

SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other SEI Investments news, EVP Michael Peterson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total transaction of $791,400.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares of the company’s stock, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,194 shares of company stock valued at $15,769,472 in the last quarter. Insiders own 14.30% of the company’s stock.

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.