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

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

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.47 during midday trading on Wednesday, reaching $63.04. The stock had a trading volume of 683,973 shares, compared to its average volume of 430,361. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.01. SEI Investments has a twelve month low of $46.30 and a twelve month high of $63.49. The company’s 50 day moving average price is $60.66 and its 200 day moving average price is $56.24.

SEI Investments Increases Dividend

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

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $54.51, for a total value of $817,650.00. Following the transaction, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,114,933.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Wayne Withrow sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $54.51, for a total transaction of $817,650.00. Following the transaction, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,114,933.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now owns 174,741 shares in the company, valued at approximately $10,833,942. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,100 shares of company stock worth $2,036,235. Company insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Covestor Ltd raised its holdings in SEI Investments by 121.3% during the first quarter. Covestor Ltd now owns 2,195 shares of the asset manager’s stock worth $132,000 after buying an additional 1,203 shares during the last quarter. PDT Partners LLC acquired a new position in SEI Investments during the second quarter worth $209,000. XTX Topco Ltd acquired a new position in SEI Investments during the first quarter worth $267,000. Meiji Yasuda Life Insurance Co raised its holdings in SEI Investments by 14.8% during the first quarter. Meiji Yasuda Life Insurance Co now owns 4,807 shares of the asset manager’s stock worth $289,000 after buying an additional 618 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in SEI Investments by 15.3% during the first quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock worth $290,000 after buying an additional 639 shares during the last quarter. Institutional investors and hedge funds own 69.45% of the company’s stock.

Wall Street Analyst Weigh In

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