FY2024 EPS Estimate for SEI Investments Raised by Analyst

SEI Investments (NASDAQ:SEIC - Free Report) - Equities research analysts at William Blair upped their FY2024 earnings estimates for shares of SEI Investments in a research note issued to investors on Thursday, October 24th. William Blair analyst J. Schmitt now forecasts that the asset manager will earn $4.52 per share for the year, up from their previous forecast of $4.30. The consensus estimate for SEI Investments' current full-year earnings is $4.25 per share. William Blair also issued estimates for SEI Investments' Q4 2024 earnings at $1.29 EPS, Q1 2025 earnings at $1.22 EPS, Q2 2025 earnings at $1.23 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.35 EPS, Q1 2026 earnings at $1.29 EPS, Q2 2026 earnings at $1.31 EPS, Q3 2026 earnings at $1.34 EPS and FY2026 earnings at $5.40 EPS.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley lifted their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday. Oppenheimer lifted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research note on Thursday. One research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $77.50.

SEI Investments Trading Up 0.9 %

Shares of NASDAQ SEIC traded up $0.69 during midday trading on Friday, hitting $75.10. 1,179,522 shares of the company's stock were exchanged, compared to its average volume of 585,108. The business's fifty day moving average price is $68.94 and its two-hundred day moving average price is $67.40. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.39 and a beta of 0.99. SEI Investments has a 12-month low of $52.19 and a 12-month high of $75.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. During the same period in the previous year, the business earned $0.87 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis.

Institutional Trading of SEI Investments

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock valued at $89,291,000 after acquiring an additional 222,631 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of SEI Investments by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager's stock worth $76,751,000 after purchasing an additional 36,810 shares during the period. Raymond James & Associates boosted its stake in shares of SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager's stock valued at $37,672,000 after purchasing an additional 19,846 shares in the last quarter. ProShare Advisors LLC increased its position in shares of SEI Investments by 0.6% during the second quarter. ProShare Advisors LLC now owns 465,011 shares of the asset manager's stock valued at $30,082,000 after buying an additional 2,698 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in SEI Investments by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager's stock worth $24,671,000 after buying an additional 4,656 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company's stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $67.36, for a total value of $4,108,960.00. Following the transaction, the chairman now owns 7,504,285 shares in the company, valued at approximately $505,488,637.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of SEI Investments stock in a transaction on Monday, August 26th. The stock was 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 directly owns 7,605,414 shares in the company, valued at approximately $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 in the last 90 days. 14.30% of the stock is owned by company insiders.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.