SEI Investments (NASDAQ:SEIC) Issues Earnings Results, Misses Expectations By $0.02 EPS

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02), Zacks reports. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%.

SEI Investments Price Performance

Shares of NASDAQ SEIC traded down $1.43 during midday trading on Wednesday, reaching $82.96. 596,955 shares of the stock were exchanged, compared to its average volume of 543,611. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.44 and a beta of 0.98. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The business has a 50-day simple moving average of $82.88 and a two-hundred day simple moving average of $74.54.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is 23.67%.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of recent research reports. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Piper Sandler lifted their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One equities research 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.com, SEI Investments presently has an average rating of “Hold” and an average target price of $86.75.

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the sale, the chairman now directly owns 7,284,964 shares in the company, valued at $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,194 shares of company stock worth $15,769,472. Corporate insiders own 14.30% of the company’s stock.

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.