SEI Investments (NASDAQ:SEIC) Posts Earnings Results, Beats Estimates By $0.01 EPS

SEI Investments (NASDAQ:SEIC) posted its quarterly earnings results on Wednesday. The asset manager reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01, Briefing.com reports. SEI Investments had a return on equity of 23.49% and a net margin of 25.44%. The firm had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis.

SEI Investments Price Performance

SEIC stock traded up $0.87 during mid-day trading on Friday, hitting $66.94. 259,949 shares of the stock were exchanged, compared to its average volume of 591,219. The business has a fifty day moving average price of $66.35 and a 200 day moving average price of $66.89. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.32 and a beta of 0.99.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.84 annualized dividend and a yield of 2.75%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s payout ratio is 25.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SEIC shares. Piper Sandler cut their price target on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday. Oppenheimer lifted their price objective on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $71.25.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of SEI Investments stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now owns 7,677,471 shares in the company, valued at $522,759,000.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Alfred P. West, Jr. sold 70,000 shares of SEI Investments stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.62, for a total value of $4,803,400.00. Following the transaction, the chairman now owns 7,795,471 shares in the company, valued at $534,925,220.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 48,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The disclosure for this sale can be found here. Insiders sold a total of 123,000 shares of company stock valued at $8,406,920 over the last 90 days. 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.