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

SEI Investments (NASDAQ:SEIC) announced its quarterly earnings data on Wednesday. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01, Briefing.com reports. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The company had revenue of $511.58 million during the quarter, compared to the consensus estimate of $510.41 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $0.40 during mid-day trading on Wednesday, reaching $66.60. The company had a trading volume of 1,562,252 shares, compared to its average volume of 577,191. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The stock has a market capitalization of $8.76 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The stock’s 50 day moving average is $68.55 and its 200-day moving average is $63.31.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the transaction, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the sale, the chairman now directly owns 7,865,471 shares in the company, valued at $567,415,077.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,333 shares of company stock valued at $14,481,612. 15.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SEIC shares. Piper Sandler increased their price objective on SEI Investments from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Oppenheimer boosted their target price on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus target price of $70.25.

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.