SEI Investments (NASDAQ:SEIC) – Investment analysts at Oppenheimer boosted their FY2018 earnings estimates for shares of SEI Investments in a report issued on Monday. Oppenheimer analyst G. Greene now forecasts that the asset manager will earn $3.23 per share for the year, up from their prior estimate of $2.68. Oppenheimer has a “Outperform” rating and a $67.00 price objective on the stock. Oppenheimer also issued estimates for SEI Investments’ FY2019 earnings at $3.67 EPS.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share.
A number of other analysts have also recently weighed in on SEIC. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Friday, January 5th. Mizuho restated a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research note on Friday, November 17th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $70.25.
SEI Investments (SEIC) traded down $0.30 during midday trading on Thursday, reaching $75.00. 555,000 shares of the company’s stock were exchanged, compared to its average volume of 614,229. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. The firm has a market capitalization of $11,780.00, a PE ratio of 32.75, a PEG ratio of 2.09 and a beta of 1.40. SEI Investments has a 1 year low of $47.88 and a 1 year high of $75.57.
The company also recently disclosed a semiannual dividend, which was paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th were paid a $0.30 dividend. This represents a dividend yield of 0.85%. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 26th. SEI Investments’s payout ratio is presently 26.20%.
SEI Investments declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the transaction, the insider now owns 10,619,272 shares of the company’s stock, valued at $686,429,742.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total transaction of $326,650.00. The disclosure for this sale can be found here. Insiders sold 136,250 shares of company stock valued at $9,057,050 over the last 90 days. 16.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in SEI Investments by 5.5% during the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock worth $723,225,000 after acquiring an additional 697,125 shares during the period. Vanguard Group Inc. increased its position in SEI Investments by 2.8% during the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock worth $713,155,000 after acquiring an additional 357,187 shares during the period. State Street Corp increased its position in SEI Investments by 0.4% during the second quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock worth $320,254,000 after acquiring an additional 21,421 shares during the period. Arrowstreet Capital Limited Partnership increased its position in SEI Investments by 47.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after acquiring an additional 615,539 shares during the period. Finally, American Century Companies Inc. increased its position in SEI Investments by 0.9% during the third quarter. American Century Companies Inc. now owns 1,786,915 shares of the asset manager’s stock worth $109,109,000 after acquiring an additional 16,248 shares during the period. 70.47% of the stock is currently owned by institutional investors and hedge funds.
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About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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