SEI Investments (NASDAQ:SEIC – Free Report) – Analysts at Zacks Research lifted their Q3 2023 EPS estimates for shares of SEI Investments in a report issued on Thursday, August 10th. Zacks Research analyst R. Fatarpekar now anticipates that the asset manager will post earnings of $0.88 per share for the quarter, up from their previous forecast of $0.87. The consensus estimate for SEI Investments’ current full-year earnings is $3.52 per share. Zacks Research also issued estimates for SEI Investments’ Q4 2023 earnings at $0.93 EPS, FY2023 earnings at $3.49 EPS, Q1 2024 earnings at $0.92 EPS, Q2 2024 earnings at $0.95 EPS, FY2024 earnings at $3.89 EPS, Q1 2025 earnings at $1.00 EPS and FY2025 earnings at $4.17 EPS.
SEI Investments (NASDAQ:SEIC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $489.06 million for the quarter, compared to analyst estimates of $479.22 million. SEI Investments had a return on equity of 22.39% and a net margin of 21.19%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share.
Check Out Our Latest Analysis on SEIC
SEI Investments Stock Down 0.0 %
Shares of SEIC opened at $61.84 on Monday. The stock has a fifty day simple moving average of $60.60 and a two-hundred day simple moving average of $59.41. The company has a market capitalization of $8.19 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03. SEI Investments has a 52-week low of $46.30 and a 52-week high of $64.69.
SEI Investments Dividend Announcement
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 21st. Shareholders of record on Monday, June 12th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, June 9th. This represents a yield of 1.5%. SEI Investments’s payout ratio is currently 29.05%.
SEI Investments announced that its board has approved a stock buyback plan on Tuesday, April 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 41,304 shares of SEI Investments stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $57.68, for a total transaction of $2,382,414.72. Following the completion of the transaction, the chairman now directly owns 8,419,729 shares of the company’s stock, valued at $485,649,968.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 41,304 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $57.68, for a total value of $2,382,414.72. Following the completion of the sale, the chairman now directly owns 8,419,729 shares in the company, valued at approximately $485,649,968.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $63.20, for a total value of $632,000.00. Following the sale, the executive vice president now owns 2,500 shares of the company’s stock, valued at approximately $158,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,974 shares of company stock valued at $5,767,471. Corporate insiders own 15.50% of the company’s stock.
Institutional Investors Weigh In On SEI Investments
Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in SEI Investments by 19.8% in the first quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock worth $1,337,000 after purchasing an additional 3,666 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of SEI Investments by 15.3% in the 1st quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock valued at $290,000 after purchasing an additional 639 shares during the period. Bank of Montreal Can raised its holdings in shares of SEI Investments by 18.5% in the 1st quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock worth $6,230,000 after buying an additional 15,773 shares in the last quarter. Panagora Asset Management Inc. raised its stake in SEI Investments by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock worth $1,151,000 after acquiring an additional 1,943 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of SEI Investments by 9.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock valued at $2,322,000 after purchasing an additional 3,424 shares in the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.
About SEI Investments
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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