SEI Investments (NASDAQ:SEIC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings results on Wednesday. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01, Briefing.com reports. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The company had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. During the same quarter last year, the business posted $0.79 EPS. SEI Investments’s quarterly revenue was up 9.1% compared to the same quarter last year.

SEI Investments Trading Down 0.6 %

SEI Investments stock opened at $66.60 on Thursday. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 1.37 and a beta of 1.02. The firm has a 50 day simple moving average of $68.55 and a 200 day simple moving average of $63.31.

Insider Activity at SEI Investments

In related news, insider Sanjay Sharma sold 15,000 shares of SEI Investments stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.20, for a total value of $1,008,000.00. Following the completion of the transaction, the insider now directly owns 16,895 shares in the company, valued at approximately $1,135,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sanjay Sharma sold 15,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the completion of the transaction, the insider now directly owns 16,895 shares in the company, valued at approximately $1,135,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 3,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $67.31, for a total transaction of $201,930.00. Following the transaction, the insider now owns 1,300 shares of the company’s stock, valued at $87,503. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,333 shares of company stock worth $14,481,612. Corporate insiders own 15.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SEIC shares. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Oppenheimer raised their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler lifted their price objective on shares of SEI Investments from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.25.

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.