SEI Investments (NASDAQ:SEIC) Releases Earnings Results

SEI Investments (NASDAQ:SEIC) announced its earnings results on Tuesday. The asset manager reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01, MarketWatch Earnings reports. SEI Investments had a return on equity of 26.69% and a net margin of 27.10%. The business had revenue of $475.65 million for the quarter, compared to analyst estimates of $464.69 million. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year.

SEI Investments stock traded down $1.12 during midday trading on Thursday, hitting $61.67. The stock had a trading volume of 7,213 shares, compared to its average volume of 509,631. The company has a market capitalization of $8.81 billion, a PE ratio of 19.75, a P/E/G ratio of 1.38 and a beta of 1.08. SEI Investments has a 12 month low of $48.70 and a 12 month high of $64.78. The business’s fifty day moving average is $62.44.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 22nd. Investors of record on Monday, June 14th were issued a $0.37 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, June 11th. SEI Investments’s payout ratio is currently 24.67%.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 2nd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 2.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

SEIC has been the topic of a number of analyst reports. Raymond James reaffirmed a “hold” rating on shares of SEI Investments in a research report on Thursday, July 8th. Morgan Stanley dropped their target price on SEI Investments from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 22nd. Finally, Oppenheimer lifted their target price on SEI Investments from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. SEI Investments currently has a consensus rating of “Buy” and an average price target of $69.38.

In related news, Director William Doran sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $63.27, for a total value of $632,700.00. Following the completion of the sale, the director now directly owns 659,915 shares of the company’s stock, valued at $41,752,822.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.86% of the stock is owned by insiders.

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.

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Earnings History for SEI Investments (NASDAQ:SEIC)

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