SEI Investments Company (NASDAQ:SEIC) Expected to Post Quarterly Sales of $370.46 Million
Brokerages forecast that SEI Investments Company (NASDAQ:SEIC) will post sales of $370.46 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings, with the lowest sales estimate coming in at $369.60 million and the highest estimate coming in at $371.77 million. SEI Investments reported sales of $343.83 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that SEI Investments will report full year sales of $370.46 million for the current financial year, with estimates ranging from $1.48 billion to $1.51 billion. For the next financial year, analysts anticipate that the business will post sales of $1.63 billion per share, with estimates ranging from $1.58 billion to $1.65 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 19th. The asset manager reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. SEI Investments had a net margin of 24.18% and a return on equity of 26.20%. The company had revenue of $359.98 million during the quarter, compared to analysts’ expectations of $362.65 million. During the same period in the previous year, the company earned $0.46 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.
A number of equities research analysts have issued reports on SEIC shares. Zacks Investment Research upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 20th. Mizuho started coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. increased their price target on shares of SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.75.
In other SEI Investments news, insider Paul Klauder sold 7,500 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $53.56, for a total value of $401,700.00. Following the sale, the insider now directly owns 21,629 shares in the company, valued at approximately $1,158,449.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph P. Ujobai sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $53.70, for a total transaction of $1,342,500.00. Following the completion of the sale, the insider now owns 37,540 shares in the company, valued at $2,015,898. The disclosure for this sale can be found here. Insiders sold a total of 357,500 shares of company stock worth $18,403,277 over the last quarter. 17.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Quantitative Systematic Strategies LLC bought a new stake in SEI Investments during the second quarter valued at about $372,000. BB&T Corp raised its stake in SEI Investments by 7.7% in the second quarter. BB&T Corp now owns 86,425 shares of the asset manager’s stock valued at $4,648,000 after buying an additional 6,144 shares in the last quarter. US Bancorp DE raised its stake in SEI Investments by 1,649.0% in the second quarter. US Bancorp DE now owns 22,282 shares of the asset manager’s stock valued at $1,198,000 after buying an additional 21,008 shares in the last quarter. Sheets Smith Wealth Management bought a new stake in SEI Investments during the second quarter valued at about $2,969,000. Finally, State Treasurer State of Michigan raised its stake in SEI Investments by 1.3% in the second quarter. State Treasurer State of Michigan now owns 55,000 shares of the asset manager’s stock valued at $2,958,000 after buying an additional 700 shares in the last quarter. Institutional investors own 69.48% of the company’s stock.
Shares of SEI Investments (NASDAQ:SEIC) opened at 55.82 on Friday. The stock has a market capitalization of $8.86 billion, a PE ratio of 26.45 and a beta of 1.33. SEI Investments has a 52 week low of $42.12 and a 52 week high of $56.16. The stock’s 50 day moving average is $53.65 and its 200 day moving average is $51.38.
SEI Investments Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for SEI Investments Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments Company and related stocks with our FREE daily email newsletter.