FY2017 EPS Estimates for SEI Investments Company (SEIC) Lowered by Analyst
SEI Investments Company (NASDAQ:SEIC) – Investment analysts at Oppenheimer Holdings cut their FY2017 earnings per share estimates for shares of SEI Investments in a research note issued on Wednesday. Oppenheimer Holdings analyst G. Greene now anticipates that the asset manager will post earnings of $2.28 per share for the year, down from their prior estimate of $2.29. Oppenheimer Holdings currently has a “Outperform” rating and a $67.00 target price on the stock. Oppenheimer Holdings also issued estimates for SEI Investments’ Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.63 EPS and FY2019 earnings at $2.97 EPS.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a research note on Sunday, September 3rd. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Mizuho began coverage on SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.50.
SEI Investments (NASDAQ:SEIC) opened at 61.06 on Friday. The firm’s 50-day moving average price is $56.76 and its 200 day moving average price is $53.36. The company has a market cap of $9.65 billion, a PE ratio of 28.00 and a beta of 1.33. SEI Investments has a 52-week low of $43.54 and a 52-week high of $61.50.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total value of $5,640,000.00. Following the transaction, the insider now directly owns 10,836,282 shares in the company, valued at approximately $611,166,304.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $55.94, for a total value of $2,797,000.00. Following the completion of the transaction, the insider now owns 10,686,282 shares in the company, valued at $597,790,615.08. The disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $17,310,050 over the last 90 days. Corporate insiders own 16.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SEIC. BlackRock Inc. increased its stake in SEI Investments by 3,644.6% in the 1st quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock worth $643,148,000 after acquiring an additional 12,410,221 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in SEI Investments by 47.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after acquiring an additional 615,539 shares during the last quarter. Vanguard Group Inc. increased its stake in SEI Investments by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock worth $650,849,000 after acquiring an additional 595,691 shares during the last quarter. Balyasny Asset Management LLC increased its position in shares of SEI Investments by 386.9% during the 2nd quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock valued at $15,421,000 after purchasing an additional 227,849 shares during the last quarter. Finally, JLB & Associates Inc. bought a new position in shares of SEI Investments during the 2nd quarter valued at about $11,631,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
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.
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