SEI Investments (NASDAQ:SEIC – Get Rating) – Research analysts at William Blair raised their Q2 2023 EPS estimates for SEI Investments in a note issued to investors on Wednesday, April 19th. William Blair analyst J. Schmitt now forecasts that the asset manager will post earnings of $0.88 per share for the quarter, up from their prior forecast of $0.85. The consensus estimate for SEI Investments’ current full-year earnings is $3.49 per share. William Blair also issued estimates for SEI Investments’ Q3 2023 earnings at $0.91 EPS.
Several other research firms have also recently commented on SEIC. Piper Sandler began coverage on shares of SEI Investments in a research note on Wednesday, March 29th. They set a “neutral” rating and a $60.00 target price on the stock. Oppenheimer restated an “outperform” rating and set a $68.00 price objective on shares of SEI Investments in a research report on Tuesday, April 4th. StockNews.com initiated coverage on shares of SEI Investments in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Morgan Stanley raised their target price on shares of SEI Investments from $54.00 to $58.00 and gave the stock an “underweight” rating in a report on Monday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.80.
SEI Investments Stock Down 0.4 %
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The asset manager reported $0.79 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.03). SEI Investments had a return on equity of 22.52% and a net margin of 20.88%. The company had revenue of $469.12 million for the quarter, compared to analyst estimates of $468.79 million. During the same period last year, the company posted $1.36 EPS. The business’s revenue for the quarter was down 19.3% on a year-over-year basis.
SEI Investments announced that its board has authorized a share buyback program on Tuesday, April 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 37,566 shares of SEI Investments stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $63.59, for a total transaction of $2,388,821.94. Following the completion of the transaction, the chairman now directly owns 8,813,217 shares of the company’s stock, valued at approximately $560,432,469.03. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 35,936 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $63.39, for a total value of $2,277,983.04. Following the sale, the chairman now owns 8,905,613 shares in the company, valued at $564,526,808.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 37,566 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $63.59, for a total transaction of $2,388,821.94. Following the completion of the transaction, the chairman now owns 8,813,217 shares in the company, valued at $560,432,469.03. The disclosure for this sale can be found here. Insiders sold 235,523 shares of company stock valued at $13,928,946 in the last quarter. Company insiders own 25.40% of the company’s stock.
Hedge Funds Weigh In On SEI Investments
Several hedge funds and other institutional investors have recently bought and sold shares of SEIC. CoreCap Advisors LLC purchased a new position in shares of SEI Investments during the 4th quarter worth $26,000. Private Trust Co. NA purchased a new stake in SEI Investments during the second quarter worth about $39,000. Wipfli Financial Advisors LLC purchased a new stake in SEI Investments during the third quarter worth about $40,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in SEI Investments during the fourth quarter worth about $42,000. Finally, International Assets Investment Management LLC purchased a new stake in SEI Investments during the first quarter worth about $45,000. Institutional investors and hedge funds own 69.45% of the company’s stock.
About SEI Investments
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
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