SEI Investments (NASDAQ:SEIC) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

SEI Investments (NASDAQ:SEICGet Rating) announced its earnings results on Wednesday. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04, RTT News reports. SEI Investments had a return on equity of 28.74% and a net margin of 24.98%. The firm had revenue of $456.59 million for the quarter, compared to analysts’ expectations of $456.18 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year.

SEI Investments Stock Up 0.8 %

Shares of SEI Investments stock traded up $0.47 on Wednesday, hitting $63.04. 683,973 shares of the company traded hands, compared to its average volume of 430,361. SEI Investments has a 12-month low of $46.30 and a 12-month high of $63.49. The company has a 50-day moving average price of $60.66 and a 200 day moving average price of $56.24. The company has a market cap of $8.50 billion, a PE ratio of 17.27, a PEG ratio of 1.50 and a beta of 1.01.

SEI Investments Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, January 5th. Stockholders of record on Monday, December 19th were issued a dividend of $0.43 per share. This is a boost from SEI Investments’s previous Semi-Annual dividend of $0.40. This represents a dividend yield of 1.4%. The ex-dividend date was Friday, December 16th. SEI Investments’s payout ratio is currently 23.56%.

Insiders Place Their Bets

In other SEI Investments news, EVP Kevin Barr sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now owns 174,741 shares of the company’s stock, valued at approximately $10,833,942. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Kevin Barr sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now owns 174,741 shares of the company’s stock, valued at $10,833,942. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wayne Withrow sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $54.51, for a total transaction of $817,650.00. Following the sale, the executive vice president now directly owns 38,799 shares in the company, valued at $2,114,933.49. The disclosure for this sale can be found here. Insiders sold a total of 35,100 shares of company stock valued at $2,036,235 in the last quarter. Insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in SEI Investments in the third quarter worth $817,000. M&T Bank Corp increased its position in shares of SEI Investments by 1.4% during the third quarter. M&T Bank Corp now owns 16,808 shares of the asset manager’s stock worth $826,000 after acquiring an additional 227 shares in the last quarter. Captrust Financial Advisors increased its position in shares of SEI Investments by 313.9% during the third quarter. Captrust Financial Advisors now owns 23,566 shares of the asset manager’s stock worth $1,156,000 after acquiring an additional 17,872 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of SEI Investments by 1.1% during the third quarter. Baird Financial Group Inc. now owns 15,900 shares of the asset manager’s stock worth $780,000 after acquiring an additional 172 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of SEI Investments by 151.9% during the third quarter. Jane Street Group LLC now owns 19,045 shares of the asset manager’s stock worth $934,000 after acquiring an additional 11,484 shares in the last quarter. 69.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on SEIC shares. TheStreet raised SEI Investments from a “c+” rating to a “b-” rating in a report on Wednesday, November 16th. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, December 23rd. Morgan Stanley upped their price target on SEI Investments from $51.00 to $53.00 and gave the company an “underweight” rating in a report on Thursday, December 1st. The Goldman Sachs Group upped their price target on SEI Investments from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, November 23rd. Finally, Oppenheimer upped their price target on SEI Investments from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Hold” and an average price target of $59.80.

About SEI Investments

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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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