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

SEI Investments (NASDAQ:SEIC) posted its earnings results on Wednesday. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01, Briefing.com reports. SEI Investments had a net margin of 24.80% and a return on equity of 23.40%. The company had revenue of $511.58 million during the quarter, compared to analysts’ expectations of $510.41 million. During the same period last year, the company posted $0.79 earnings per share. SEI Investments’s quarterly revenue was up 9.1% on a year-over-year basis.

SEI Investments Price Performance

Shares of SEIC opened at $66.48 on Friday. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The company has a 50-day moving average of $68.56 and a 200 day moving average of $63.33. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.36 and a beta of 1.02.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 price objective (up previously from $72.00) on shares of SEI Investments in a research report on Thursday. Piper Sandler lowered their price objective on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Finally, Oppenheimer increased their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.00.

Insider Activity at SEI Investments

In related news, EVP Paul Klauder sold 2,000 shares of SEI Investments stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $69.80, for a total transaction of $139,600.00. Following the completion of the sale, the executive vice president now owns 20,752 shares in the company, valued at approximately $1,448,489.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other SEI Investments news, insider Sanjay Sharma sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the transaction, the insider now owns 16,895 shares of the company’s stock, valued at approximately $1,135,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Klauder sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $69.80, for a total transaction of $139,600.00. Following the transaction, the executive vice president now directly owns 20,752 shares in the company, valued at approximately $1,448,489.60. The disclosure for this sale can be found here. Insiders sold 206,333 shares of company stock worth $14,481,612 in the last 90 days. 15.50% of the stock is owned by corporate insiders.

SEI Investments Company Profile

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.