$0.78 Earnings Per Share Expected for SEI Investments (SEIC) This Quarter
Brokerages expect SEI Investments (NASDAQ:SEIC) to report $0.78 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SEI Investments’ earnings. The lowest EPS estimate is $0.76 and the highest is $0.80. SEI Investments reported earnings of $0.55 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 41.8%. The firm is scheduled to report its next quarterly earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that SEI Investments will report full-year earnings of $3.24 per share for the current financial year, with EPS estimates ranging from $3.16 to $3.30. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.56 per share, with EPS estimates ranging from $3.55 to $3.58. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover SEI Investments.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.15. SEI Investments had a net margin of 26.49% and a return on equity of 26.74%. The company had revenue of $408.22 million for the quarter, compared to analyst estimates of $397.96 million. During the same period last year, the firm earned $0.55 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis.
SEI Investments (SEIC) traded up $1.55 on Wednesday, hitting $70.37. 1,173,791 shares of the company were exchanged, compared to its average volume of 663,756. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.07. SEI Investments has a one year low of $48.78 and a one year high of $77.49. The company has a market capitalization of $10,809.49, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.77 and a beta of 1.30.
SEI Investments declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other SEI Investments news, insider N Jeffrey Klauder sold 20,000 shares of SEI Investments stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $68.39, for a total value of $1,367,800.00. Following the sale, the insider now owns 62,194 shares of the company’s stock, valued at $4,253,447.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sarah Blumenstein sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total transaction of $326,650.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,750 shares of company stock worth $4,049,300. Insiders own 16.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. American International Group Inc. raised its position in SEI Investments by 0.9% in the fourth quarter. American International Group Inc. now owns 275,167 shares of the asset manager’s stock worth $19,774,000 after acquiring an additional 2,403 shares during the period. BlackRock Inc. raised its position in SEI Investments by 1.9% in the fourth quarter. BlackRock Inc. now owns 13,949,844 shares of the asset manager’s stock worth $1,002,436,000 after acquiring an additional 254,860 shares during the period. Schroder Investment Management Group raised its position in SEI Investments by 1,722.5% in the fourth quarter. Schroder Investment Management Group now owns 162,200 shares of the asset manager’s stock worth $11,656,000 after acquiring an additional 153,300 shares during the period. Rhumbline Advisers raised its position in SEI Investments by 2.8% in the fourth quarter. Rhumbline Advisers now owns 316,182 shares of the asset manager’s stock worth $22,721,000 after acquiring an additional 8,672 shares during the period. Finally, Arizona State Retirement System raised its position in SEI Investments by 26.4% in the fourth quarter. Arizona State Retirement System now owns 94,075 shares of the asset manager’s stock worth $6,760,000 after acquiring an additional 19,677 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.
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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