SEI Investments (NASDAQ:SEIC – Get Rating) – Analysts at William Blair issued their FY2023 earnings per share estimates for shares of SEI Investments in a note issued to investors on Monday, July 25th. William Blair analyst J. Schmitt forecasts that the asset manager will post earnings of $3.75 per share for the year. William Blair has a “Mkt Perform” rating on the stock. The consensus estimate for SEI Investments’ current full-year earnings is $3.68 per share.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The company had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. During the same period in the prior year, the firm earned $0.93 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis.
A number of other brokerages have also commented on SEIC. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. The Goldman Sachs Group dropped their price objective on shares of SEI Investments to $58.00 in a research note on Friday, July 22nd. Piper Sandler dropped their price objective on shares of SEI Investments to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of SEI Investments from $62.00 to $55.00 in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.50.
SEI Investments Stock Up 0.4 %
Shares of SEI Investments stock opened at $53.90 on Wednesday. The company has a fifty day moving average price of $54.80 and a 200 day moving average price of $57.22. The company has a current ratio of 5.42, a quick ratio of 5.30 and a debt-to-equity ratio of 0.02. SEI Investments has a twelve month low of $51.07 and a twelve month high of $65.22. The stock has a market cap of $7.40 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.
SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
SEI Investments Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Monday, June 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Friday, June 10th. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s dividend payout ratio is 19.18%.
Institutional Investors Weigh In On SEI Investments
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. acquired a new position in SEI Investments in the 1st quarter valued at $36,000. Artemis Wealth Advisors LLC bought a new position in shares of SEI Investments during the 1st quarter worth about $40,000. Quadrant Capital Group LLC lifted its holdings in shares of SEI Investments by 104.6% during the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after acquiring an additional 431 shares during the period. Signaturefd LLC lifted its holdings in shares of SEI Investments by 34.4% during the 4th quarter. Signaturefd LLC now owns 851 shares of the asset manager’s stock worth $52,000 after acquiring an additional 218 shares during the period. Finally, UMB Bank N A MO bought a new position in SEI Investments during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 70.44% 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.
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