Analysts Issue Forecasts for SEI Investments Q3 Earnings

SEI Investments (NASDAQ:SEIC - Free Report) - William Blair lifted their Q3 2024 earnings per share estimates for shares of SEI Investments in a report issued on Monday, October 14th. William Blair analyst J. Schmitt now anticipates that the asset manager will post earnings per share of $1.08 for the quarter, up from their previous forecast of $1.06. The consensus estimate for SEI Investments' current full-year earnings is $4.24 per share.

A number of other research firms have also recently commented on SEIC. Oppenheimer upped their price target on SEI Investments from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on SEI Investments from $71.00 to $74.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $73.00 price target (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $72.25.

SEI Investments Trading Up 1.1 %

NASDAQ:SEIC traded up $0.78 during trading hours on Thursday, hitting $73.36. 699,305 shares of the stock were exchanged, compared to its average volume of 580,784. The firm's fifty day moving average price is $68.09 and its 200 day moving average price is $67.31. The company has a market cap of $9.53 billion, a P/E ratio of 19.20, a P/E/G ratio of 1.40 and a beta of 0.99. SEI Investments has a 52-week low of $52.19 and a 52-week high of $73.45.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $518.99 million for the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now directly owns 7,504,285 shares of the company's stock, valued at $505,488,637.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares in the company, valued at $505,488,637.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the completion of the transaction, the chairman now owns 7,605,414 shares in the company, valued at $513,745,715.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,582 shares of company stock worth $8,942,405 over the last quarter. 14.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SEI Investments

Institutional investors and hedge funds have recently modified their holdings of the business. Fairfield Financial Advisors LTD bought a new position in shares of SEI Investments in the second quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after buying an additional 500 shares during the period. EverSource Wealth Advisors LLC boosted its position in SEI Investments by 78.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager's stock worth $41,000 after buying an additional 275 shares during the period. Bessemer Group Inc. raised its holdings in SEI Investments by 184.7% during the 1st quarter. Bessemer Group Inc. now owns 595 shares of the asset manager's stock worth $43,000 after purchasing an additional 386 shares during the last quarter. Finally, Mather Group LLC. increased its stake in shares of SEI Investments by 181.2% in the 2nd quarter. Mather Group LLC. now owns 776 shares of the asset manager's stock valued at $50,000 after acquiring an additional 500 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

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.