Wall Street analysts forecast that SEI Investments (NASDAQ:SEIC) will announce $467.89 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for SEI Investments’ earnings. The highest sales estimate is $477.00 million and the lowest is $458.50 million. SEI Investments posted sales of $424.93 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 20th.
On average, analysts expect that SEI Investments will report full-year sales of $1.86 billion for the current fiscal year, with estimates ranging from $1.83 billion to $1.88 billion. For the next financial year, analysts anticipate that the company will report sales of $1.93 billion, with estimates ranging from $1.86 billion to $1.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Tuesday, July 20th. The asset manager reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.01. SEI Investments had a net margin of 27.10% and a return on equity of 26.69%. The firm had revenue of $475.65 million for the quarter, compared to analyst estimates of $464.69 million. During the same quarter last year, the firm posted $0.68 earnings per share. SEI Investments’s revenue for the quarter was up 18.7% compared to the same quarter last year.
Shares of SEIC stock traded down $2.31 during mid-day trading on Friday, reaching $60.48. 16,038 shares of the company were exchanged, compared to its average volume of 509,631. SEI Investments has a fifty-two week low of $48.70 and a fifty-two week high of $64.78. The company has a market capitalization of $8.64 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.38 and a beta of 1.08. The company has a 50 day moving average price of $62.44.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 22nd. Shareholders of record on Monday, June 14th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.45%. This is a boost from SEI Investments’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, June 11th. SEI Investments’s dividend payout ratio is 24.67%.
SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 2nd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other SEI Investments news, Director William Doran sold 10,000 shares of the business’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $63.27, for a total value of $632,700.00. Following the transaction, the director now owns 659,915 shares of the company’s stock, valued at $41,752,822.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.86% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SEIC. Norges Bank bought a new stake in shares of SEI Investments in the fourth quarter worth about $72,825,000. Royce & Associates LP boosted its position in SEI Investments by 185.5% during the first quarter. Royce & Associates LP now owns 1,260,338 shares of the asset manager’s stock valued at $76,792,000 after purchasing an additional 818,919 shares during the last quarter. Strs Ohio boosted its position in SEI Investments by 33,888.5% during the first quarter. Strs Ohio now owns 469,381 shares of the asset manager’s stock valued at $28,599,000 after purchasing an additional 468,000 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of SEI Investments by 50.5% in the fourth quarter. Schroder Investment Management Group now owns 1,069,478 shares of the asset manager’s stock valued at $61,463,000 after buying an additional 358,950 shares during the last quarter. Finally, Prana Capital Management LP lifted its position in shares of SEI Investments by 599.5% in the first quarter. Prana Capital Management LP now owns 262,879 shares of the asset manager’s stock valued at $16,017,000 after buying an additional 225,297 shares during the last quarter. Institutional investors own 67.78% 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.
Recommended Story: Initial Coin Offerings entail a high degree of risk
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.