Zacks Research Forecasts Higher Earnings for SEI Investments

SEI Investments (NASDAQ:SEIC) – Equities researchers at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of SEI Investments in a 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 forecast 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.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company 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%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS.

SEIC has been the subject of several other reports. Oppenheimer increased 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. Piper Sandler increased their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Morgan Stanley raised their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.75.

SEI Investments Stock Down 3.0 %

NASDAQ:SEIC opened at $79.00 on Thursday. The firm has a market capitalization of $10.18 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a 12-month low of $62.34 and a 12-month high of $87.25. The firm has a 50-day moving average price of $82.02 and a 200 day moving average price of $72.85.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio is presently 23.67%.

Insider Activity

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. The trade was a 6.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 239,258 shares of company stock valued at $19,753,402 over the last three months. 14.30% of the stock is owned by insiders.

Institutional Investors Weigh In On SEI Investments

Hedge funds have recently modified their holdings of the business. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the 2nd quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments in the 3rd quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

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.