Wall Street analysts expect SEI Investments (NASDAQ:SEIC) to report $403.29 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for SEI Investments’ earnings, with the lowest sales estimate coming in at $401.90 million and the highest estimate coming in at $405.97 million. SEI Investments reported sales of $372.33 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The company is expected to announce its next quarterly earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that SEI Investments will report full-year sales of $1.62 billion for the current year, with estimates ranging from $1.62 billion to $1.64 billion. For the next fiscal year, analysts expect that the company will post sales of $1.69 billion per share, with estimates ranging from $1.66 billion to $1.73 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover SEI Investments.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. SEI Investments had a net margin of 28.97% and a return on equity of 29.07%. The business had revenue of $405.60 million during the quarter, compared to analysts’ expectations of $408.10 million. During the same period in the previous year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis.
Several equities research analysts recently commented on SEIC shares. BidaskClub lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer reiterated a “buy” rating and set a $80.00 price target on shares of SEI Investments in a research note on Thursday, February 1st. Zacks Investment Research lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Sandler O’Neill set a $81.00 price target on shares of SEI Investments and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Finally, William Blair lowered shares of SEI Investments from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $75.00.
In other SEI Investments news, Director Carmen Romeo sold 5,400 shares of SEI Investments stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $74.65, for a total value of $403,110.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephen Meyer sold 20,424 shares of SEI Investments stock in a transaction on Monday, March 12th. The shares were sold at an average price of $77.44, for a total transaction of $1,581,634.56. Following the completion of the transaction, the insider now owns 98,276 shares in the company, valued at $7,610,493.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,348 shares of company stock worth $3,448,312. 16.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SEIC. AGF Investments Inc. acquired a new position in SEI Investments in the first quarter valued at $38,172,000. Millennium Management LLC acquired a new position in SEI Investments in the first quarter valued at $29,699,000. Natixis increased its stake in SEI Investments by 5,554.5% in the first quarter. Natixis now owns 285,550 shares of the asset manager’s stock valued at $21,391,000 after purchasing an additional 280,500 shares during the period. BlackRock Inc. increased its stake in shares of SEI Investments by 1.9% during the fourth quarter. BlackRock Inc. now owns 13,949,844 shares of the asset manager’s stock worth $1,002,436,000 after acquiring an additional 254,860 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of SEI Investments by 382.4% during the fourth quarter. First Trust Advisors LP now owns 308,516 shares of the asset manager’s stock worth $22,170,000 after acquiring an additional 244,567 shares during the period. Institutional investors own 69.98% of the company’s stock.
NASDAQ:SEIC traded up $0.05 during midday trading on Wednesday, hitting $65.10. 334,282 shares of the company were exchanged, compared to its average volume of 745,370. SEI Investments has a fifty-two week low of $49.45 and a fifty-two week high of $78.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.43 and a quick ratio of 6.31. The firm has a market capitalization of $10.28 billion, a P/E ratio of 28.06, a P/E/G ratio of 1.73 and a beta of 1.28.
About SEI Investments
SEI Investments Co 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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