SEI Investments (NASDAQ:SEIC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01, Briefing.com reports. The firm had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS.

SEI Investments Trading Down 0.6 %

SEIC stock traded down $0.40 during trading on Wednesday, reaching $66.60. 1,561,978 shares of the stock were exchanged, compared to its average volume of 577,191. SEI Investments has a twelve month low of $52.19 and a twelve month high of $72.54. The company has a market capitalization of $8.76 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. The stock has a 50 day simple moving average of $68.55 and a 200-day simple moving average of $63.31.

Analysts Set New Price Targets

SEIC has been the subject of a number of research reports. Piper Sandler increased their price target on SEI Investments from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Oppenheimer raised their price objective on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average price target of $70.25.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of SEI Investments stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sanjay Sharma sold 15,000 shares of SEI Investments stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the transaction, the insider now owns 16,895 shares in the company, valued at $1,135,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. Insiders have sold a total of 206,333 shares of company stock valued at $14,481,612 over the last three months. 15.50% of the stock is owned by corporate insiders.

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.