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

SEI Investments (NASDAQ:SEIC) released its earnings results on Tuesday. The asset manager reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.01, MarketWatch Earnings reports. The firm had revenue of $475.65 million during the quarter, compared to analysts’ expectations of $464.69 million. SEI Investments had a return on equity of 26.69% and a net margin of 27.10%. SEI Investments’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS.

SEIC opened at $62.79 on Thursday. The firm’s 50 day moving average is $62.44. The stock has a market cap of $8.97 billion, a P/E ratio of 19.75, a PEG ratio of 1.38 and a beta of 1.08. SEI Investments has a 52 week low of $48.70 and a 52 week high of $64.78.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 22nd. Stockholders of record on Monday, June 14th were issued a $0.37 dividend. This is an increase from SEI Investments’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, June 11th. SEI Investments’s payout ratio is presently 24.67%.

SEI Investments announced that its board has approved a stock buyback plan on Wednesday, June 2nd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

SEIC has been the subject of several analyst reports. Oppenheimer upped their price objective on SEI Investments from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley lowered their price objective on SEI Investments from $75.00 to $74.00 and set an “equal weight” rating for the company in a research report on Thursday, April 22nd. Finally, Raymond James reaffirmed a “hold” rating on shares of SEI Investments in a research report on Thursday, July 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $69.38.

In other SEI Investments news, Director William Doran sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $63.27, for a total transaction of $632,700.00. Following the completion of the sale, the director now directly owns 659,915 shares of the company’s stock, valued at approximately $41,752,822.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 23.86% of the stock is owned by corporate insiders.

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.

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Earnings History for SEI Investments (NASDAQ:SEIC)

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