Zacks Research Boosts Earnings Estimates for SEI Investments

SEI Investments (NASDAQ:SEIC - Free Report) - Research analysts at Zacks Research raised their FY2024 earnings per share estimates for SEI Investments in a research report issued on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $4.40 per share for the year, up from their previous estimate of $4.39. The consensus estimate for SEI Investments' current full-year earnings is $4.41 per share. Zacks Research also issued estimates for SEI Investments' Q4 2024 earnings at $1.17 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.22 EPS.

A number of other brokerages also recently weighed in on SEIC. Morgan Stanley lifted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $76.00 to $86.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of "Hold" and a consensus price target of $86.75.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.30 during midday trading on Thursday, reaching $81.48. The stock had a trading volume of 505,883 shares, compared to its average volume of 574,617. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a twelve month low of $62.34 and a twelve month high of $87.25. The company's 50 day moving average price is $82.02 and its 200 day moving average price is $72.85.

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

Hedge Funds Weigh In On SEI Investments

Several institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after purchasing an additional 300,704 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SEI Investments by 19.2% during 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 buying an additional 222,631 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of SEI Investments in the 2nd quarter worth about $7,787,000. Finally, Verition Fund Management LLC lifted its stake in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager's stock worth $7,687,000 after buying an additional 107,222 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at approximately $514,410. This trade represents a 60.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the transaction, the chairman now owns 7,377,506 shares of the company's stock, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by corporate insiders.

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

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a $0.49 dividend. This is a boost 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 payout ratio is currently 23.67%.

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.