Zacks: Brokerages Anticipate SEI Investments (NASDAQ:SEIC) Will Post Earnings of $0.84 Per Share

Analysts forecast that SEI Investments (NASDAQ:SEIC) will report earnings of $0.84 per share for the current quarter, Zacks reports. Three analysts have made estimates for SEI Investments’ earnings. The lowest EPS estimate is $0.82 and the highest is $0.85. SEI Investments reported earnings per share of $0.80 in the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The firm is scheduled to announce its next earnings report on Tuesday, October 22nd.

On average, analysts expect that SEI Investments will report full-year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $3.18 to $3.26. For the next financial year, analysts forecast that the firm will post earnings of $3.60 per share, with EPS estimates ranging from $3.50 to $3.67. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow SEI Investments.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company had revenue of $409.60 million during the quarter, compared to analysts’ expectations of $412.28 million. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS.

Several equities analysts have recently commented on the company. BidaskClub upgraded SEI Investments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. Keefe, Bruyette & Woods cut SEI Investments from an “outperform” rating to a “market perform” rating and increased their target price for the company from $56.00 to $64.00 in a research note on Sunday, April 14th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research note on Monday, April 22nd. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research report on Tuesday, June 11th. Finally, ValuEngine raised SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $61.50.

Shares of SEI Investments stock traded down $0.78 on Friday, hitting $57.67. 471,684 shares of the company’s stock traded hands, compared to its average volume of 470,691. The firm has a market capitalization of $8.71 billion, a PE ratio of 18.37, a P/E/G ratio of 1.54 and a beta of 1.31. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $56.53. SEI Investments has a 52-week low of $42.27 and a 52-week high of $64.21.

In related news, Director Sarah Blumenstein sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $51.96, for a total transaction of $259,800.00. Following the sale, the director now directly owns 10,681 shares of the company’s stock, valued at approximately $554,984.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 9,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $60.90, for a total value of $578,550.00. Following the sale, the director now directly owns 75,200 shares in the company, valued at $4,579,680. The disclosure for this sale can be found here. Corporate insiders own 22.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd acquired a new position in shares of SEI Investments during the second quarter valued at $321,000. Envestnet Asset Management Inc. increased its holdings in shares of SEI Investments by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 99,383 shares of the asset manager’s stock valued at $5,575,000 after purchasing an additional 6,220 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of SEI Investments during the second quarter valued at $35,000. DekaBank Deutsche Girozentrale increased its holdings in shares of SEI Investments by 35.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 10,479 shares of the asset manager’s stock valued at $609,000 after purchasing an additional 2,749 shares during the period. Finally, Advisory Services Network LLC increased its holdings in shares of SEI Investments by 16.6% during the second quarter. Advisory Services Network LLC now owns 20,922 shares of the asset manager’s stock valued at $1,174,000 after purchasing an additional 2,979 shares during the period. 68.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for SEI Investments (NASDAQ:SEIC)

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