Q2 2024 EPS Estimates for SEI Investments (NASDAQ:SEIC) Increased by Analyst

SEI Investments (NASDAQ:SEIC) – Analysts at William Blair upped their Q2 2024 earnings per share estimates for shares of SEI Investments in a research report issued on Thursday, April 25th. William Blair analyst J. Schmitt now expects that the asset manager will earn $1.05 per share for the quarter, up from their previous forecast of $1.00. The consensus estimate for SEI Investments’ current full-year earnings is $4.08 per share. William Blair also issued estimates for SEI Investments’ Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.14 EPS, FY2024 earnings at $4.25 EPS and FY2025 earnings at $4.62 EPS.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 23.40%. The firm had revenue of $511.58 million for the quarter, compared to analyst estimates of $510.41 million. During the same period in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year.

Several other brokerages have also weighed in on SEIC. Piper Sandler cut their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday. Oppenheimer boosted their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 price target (up from $72.00) on shares of SEI Investments in a research note on Thursday. One research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.00.

SEI Investments Trading Up 0.1 %

Shares of SEIC stock opened at $66.57 on Friday. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54. The company has a market cap of $8.76 billion, a P/E ratio of 18.19, a PEG ratio of 1.36 and a beta of 1.02. The firm has a fifty day moving average price of $68.58 and a 200 day moving average price of $63.41.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently bought and sold shares of the company. VisionPoint Advisory Group LLC raised its position in SEI Investments by 67.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after acquiring an additional 565 shares during the period. Evolution Advisers Inc. purchased a new position in SEI Investments during the fourth quarter worth about $55,000. Neo Ivy Capital Management acquired a new stake in SEI Investments in the fourth quarter valued at about $61,000. Finally, Principal Securities Inc. purchased a new stake in SEI Investments in the 4th quarter valued at approximately $66,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of SEI Investments stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $72.14, for a total value of $1,396,846.82. Following the transaction, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the transaction, the executive vice president now owns 55,399 shares in the company, valued at approximately $3,665,197.84. The disclosure for this sale can be found here. Insiders have sold a total of 206,333 shares of company stock valued at $14,481,612 over the last quarter. Company insiders own 15.50% 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.