$0.73 EPS Expected for SEI Investments (SEIC) This Quarter
Wall Street brokerages expect SEI Investments (NASDAQ:SEIC) to announce $0.73 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings. The highest EPS estimate is $0.75 and the lowest is $0.70. SEI Investments posted earnings of $0.86 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 15.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, April 24th.
On average, analysts expect that SEI Investments will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.85 to $3.11. For the next financial year, analysts expect that the business will report earnings of $3.48 per share, with EPS estimates ranging from $3.41 to $3.55. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 30th. The asset manager reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). SEI Investments had a return on equity of 31.48% and a net margin of 31.15%. The company had revenue of $405.05 million for the quarter, compared to analyst estimates of $403.45 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year.
In other news, EVP Wayne Withrow sold 4,997 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $47.50, for a total value of $237,357.50. Following the sale, the executive vice president now directly owns 36,711 shares in the company, valued at $1,743,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Klauder purchased 3,110 shares of the stock in a transaction dated Tuesday, February 5th. The stock was acquired at an average price of $49.81 per share, for a total transaction of $154,909.10. The disclosure for this purchase can be found here. Insiders sold 288,600 shares of company stock worth $15,159,725 over the last quarter. Company insiders own 17.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in SEI Investments by 4,406.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock worth $70,000 after acquiring an additional 3,178,224 shares during the last quarter. Norges Bank acquired a new stake in SEI Investments during the fourth quarter worth approximately $65,129,000. Millennium Management LLC boosted its position in SEI Investments by 78.4% during the fourth quarter. Millennium Management LLC now owns 1,275,814 shares of the asset manager’s stock worth $58,943,000 after acquiring an additional 560,833 shares during the last quarter. BlackRock Inc. boosted its position in SEI Investments by 3.6% during the third quarter. BlackRock Inc. now owns 13,870,716 shares of the asset manager’s stock worth $847,500,000 after acquiring an additional 485,625 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in SEI Investments by 826.1% during the third quarter. Federated Investors Inc. PA now owns 470,856 shares of the asset manager’s stock worth $28,769,000 after acquiring an additional 420,015 shares during the last quarter. Institutional investors and hedge funds own 67.75% of the company’s stock.
Shares of SEIC opened at $51.51 on Tuesday. SEI Investments has a twelve month low of $42.27 and a twelve month high of $78.35. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.43 and a beta of 1.25.
SEI Investments announced that its board has approved a stock repurchase plan on Tuesday, December 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
About SEI Investments
SEI Investments Co 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.
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