SEI Investments (NASDAQ:SEIC) Issues Quarterly Earnings Results

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings data on Wednesday. The asset manager reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01, Briefing.com reports. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The company had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis.

SEI Investments Stock Performance

SEIC opened at $66.57 on Friday. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.34 and a beta of 1.02. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock’s 50 day moving average price is $68.58 and its 200-day moving average price is $63.41.

Insider Activity at SEI Investments

In related news, EVP Wayne Withrow sold 16,970 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the transaction, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Mark Andrew Warner sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $67.31, for a total value of $201,930.00. Following the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $87,503. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wayne Withrow sold 16,970 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the transaction, the executive vice president now directly owns 55,399 shares in the company, valued at $3,665,197.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,333 shares of company stock valued at $14,481,612. 15.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SEIC has been the topic of several analyst reports. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price objective (up from $72.00) on shares of SEI Investments in a research note on Thursday. Oppenheimer boosted their price objective on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler cut their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.00.

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.