SEI Investments (NASDAQ:SEIC) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

SEI Investments (NASDAQ:SEIC) issued its quarterly earnings data on Wednesday. The asset manager reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06, FiscalAI reports. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%. The business had revenue of $662.04 million for the quarter, compared to the consensus estimate of $656.25 million.

SEI Investments Stock Performance

SEI Investments stock traded up $1.28 during trading hours on Wednesday, hitting $108.43. The stock had a trading volume of 646,693 shares, compared to its average volume of 787,867. The company has a 50-day moving average of $106.46 and a two-hundred day moving average of $96.50. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $13.01 billion, a PE ratio of 19.12 and a beta of 0.97. SEI Investments has a fifty-two week low of $75.08 and a fifty-two week high of $112.15.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Piper Sandler boosted their target price on shares of SEI Investments from $120.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company initiated coverage on shares of SEI Investments in a research note on Friday, October 2nd. They set an “overweight” rating and a $129.00 target price for the company. Finally, Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and a consensus price target of $124.83.

Insider Buying and Selling

In related news, Director Kathryn McCarthy sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the completion of the transaction, the director directly owned 77,883 shares in the company, valued at approximately $8,063,226.99. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 37,500 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $110.71, for a total value of $4,151,625.00. Following the completion of the transaction, the chief executive officer owned 192,815 shares of the company’s stock, valued at $21,346,548.65. The trade was a 16.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 158,777 shares of company stock worth $16,642,433. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Company Profile

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI’s offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.