SEI Investments Company (SEIC) Expected to Announce Quarterly Sales of $397.36 Million
Equities analysts expect SEI Investments Company (NASDAQ:SEIC) to announce sales of $397.36 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for SEI Investments’ earnings. The highest sales estimate is $399.00 million and the lowest is $396.50 million. SEI Investments reported sales of $368.81 million during the same quarter last year, which indicates a positive year over year growth rate of 7.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that SEI Investments will report full year sales of $397.36 million for the current fiscal year, with estimates ranging from $1.51 billion to $1.52 billion. For the next financial year, analysts forecast that the business will post sales of $1.65 billion per share, with estimates ranging from $1.64 billion to $1.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow SEI Investments.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share.
SEIC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research report on Thursday, July 27th. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research report on Friday, October 20th. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Oppenheimer Holdings, Inc. boosted their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SEI Investments currently has a consensus rating of “Buy” and a consensus price target of $65.50.
Shares of SEI Investments (NASDAQ:SEIC) opened at $64.67 on Tuesday. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $10,185.37, a price-to-earnings ratio of 28.12, a PEG ratio of 2.29 and a beta of 1.38. SEI Investments has a twelve month low of $45.64 and a twelve month high of $66.00.
SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In related news, insider Joseph P. Ujobai sold 17,500 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.46, for a total transaction of $1,128,050.00. Following the transaction, the insider now directly owns 30,040 shares of the company’s stock, valued at $1,936,378.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Doran sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the transaction, the director now directly owns 671,015 shares in the company, valued at $38,576,652.35. The disclosure for this sale can be found here. Insiders have sold 157,500 shares of company stock worth $9,772,250 over the last three months. 16.50% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in SEI Investments by 5.5% during the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after buying an additional 697,125 shares during the period. Vanguard Group Inc. raised its position in SEI Investments by 2.8% during the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock valued at $713,155,000 after buying an additional 357,187 shares during the period. State Street Corp raised its position in SEI Investments by 0.4% during the second quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock valued at $320,254,000 after buying an additional 21,421 shares during the period. Arrowstreet Capital Limited Partnership raised its position in SEI Investments by 47.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock valued at $102,598,000 after buying an additional 615,539 shares during the period. Finally, American Century Companies Inc. raised its position in SEI Investments by 0.9% during the third quarter. American Century Companies Inc. now owns 1,786,915 shares of the asset manager’s stock valued at $109,109,000 after buying an additional 16,248 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
About SEI Investments
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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