SEI Investments (NASDAQ:SEIC) Releases Earnings Results, Beats Estimates By $0.01 EPS

SEI Investments (NASDAQ:SEIC) posted its quarterly earnings results on Tuesday. The asset manager reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01, MarketWatch Earnings reports. SEI Investments had a net margin of 27.10% and a return on equity of 26.69%. The business had revenue of $475.65 million for the quarter, compared to the consensus estimate of $464.69 million. During the same period in the prior year, the business posted $0.68 earnings per share. SEI Investments’s revenue for the quarter was up 18.7% compared to the same quarter last year.

SEIC stock traded down $1.12 during mid-day trading on Thursday, reaching $61.67. 7,213 shares of the stock traded hands, compared to its average volume of 509,631. SEI Investments has a 52 week low of $48.70 and a 52 week high of $64.78. The stock has a 50-day simple moving average of $62.44. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.38 and a beta of 1.08.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 22nd. Shareholders of record on Monday, June 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.40%. This is a boost from SEI Investments’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, June 11th. SEI Investments’s dividend payout ratio is 24.67%.

In other SEI Investments news, Director William Doran sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $63.27, for a total transaction of $632,700.00. Following the completion of the sale, the director now directly owns 659,915 shares in the company, valued at $41,752,822.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.86% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of SEI Investments from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 22nd. Oppenheimer upped their price objective on shares of SEI Investments from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Raymond James reiterated a “hold” rating on shares of SEI Investments in a report on Thursday, July 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.38.

SEI Investments announced that its board has initiated a share buyback plan on Wednesday, June 2nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to purchase up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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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Earnings History for SEI Investments (NASDAQ:SEIC)

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