SEI Investments (SEIC) Expected to Announce Quarterly Earnings on Wednesday

SEI Investments (NASDAQ:SEIC) is expected to be announcing its earnings results after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $1.21 per share and revenue of $556,165.80 billion for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

SEI Investments Stock Up 0.7 %

SEI Investments stock opened at $84.88 on Monday. The firm has a market capitalization of $10.94 billion, a PE ratio of 20.50, a P/E/G ratio of 1.44 and a beta of 0.98. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm’s 50-day simple moving average is $82.72 and its 200 day simple moving average is $74.31.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

SEI Investments Increases Dividend

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

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the transaction, the chairman now directly owns 7,284,964 shares in the company, valued at $624,539,963.72. This represents a 1.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now owns 1,577,652 shares of the company’s stock, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,194 shares of company stock worth $15,769,472 over the last quarter. 14.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SEIC. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Oppenheimer raised their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $86.75.

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.