FY2024 EPS Forecast for SEI Investments Decreased by Analyst

SEI Investments (NASDAQ:SEIC - Free Report) - Research analysts at William Blair lowered their FY2024 earnings estimates for SEI Investments in a research report issued to clients and investors on Monday, January 13th. William Blair analyst J. Schmitt now anticipates that the asset manager will post earnings per share of $4.47 for the year, down from their prior forecast of $4.52. The consensus estimate for SEI Investments' current full-year earnings is $4.42 per share. William Blair also issued estimates for SEI Investments' Q4 2024 earnings at $1.24 EPS, FY2025 earnings at $4.95 EPS and FY2026 earnings at $5.35 EPS.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same quarter last year, the business posted $0.87 EPS. SEI Investments's revenue for the quarter was up 12.7% on a year-over-year basis.

Several other equities analysts have also recently issued reports on SEIC. Piper Sandler upped their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods raised their target price on SEI Investments from $76.00 to $86.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, January 3rd. Finally, Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned 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 $86.75.

SEI Investments Stock Up 1.3 %

Shares of SEIC stock traded up $1.08 during mid-day trading on Thursday, reaching $82.96. 355,500 shares of the stock traded hands, compared to its average volume of 548,030. The stock's fifty day simple moving average is $82.27 and its two-hundred day simple moving average is $73.32. SEI Investments has a 1-year low of $62.34 and a 1-year high of $87.25. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.98.

SEI Investments announced that its board has approved a stock repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This is an increase from SEI Investments's previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments's dividend payout ratio (DPR) is presently 23.67%.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company's stock.

Institutional Trading of SEI Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Portman Square Capital LLP grew its stake in SEI Investments by 113.1% in the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after acquiring an additional 149,840 shares during the period. UMB Bank n.a. acquired a new stake in SEI Investments in the 4th quarter valued at $9,096,000. Thrive Wealth Management LLC grew its position in SEI Investments by 0.9% in the 4th quarter. Thrive Wealth Management LLC now owns 42,307 shares of the asset manager's stock valued at $3,489,000 after purchasing an additional 362 shares during the period. BTS Asset Management Inc. bought a new stake in SEI Investments during the 4th quarter valued at $253,000. Finally, TrueWealth Advisors LLC acquired a new position in SEI Investments during the fourth quarter worth $218,000. 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.