SEI Investments (NASDAQ:SEIC) Expected to Announce Quarterly Sales of $459.96 Million


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Wall Street analysts expect that SEI Investments (NASDAQ:SEIC) will post sales of $459.96 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for SEI Investments’ earnings, with estimates ranging from $456.20 million to $463.67 million. SEI Investments reported sales of $400.65 million in the same quarter last year, which indicates a positive year over year growth rate of 14.8%. The business is expected to report its next earnings results on Wednesday, July 28th.

On average, analysts expect that SEI Investments will report full-year sales of $1.85 billion for the current year, with estimates ranging from $1.83 billion to $1.87 billion. For the next financial year, analysts anticipate that the business will report sales of $1.91 billion, with estimates ranging from $1.85 billion to $1.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover SEI Investments.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Tuesday, April 20th. The asset manager reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $455.69 million for the quarter, compared to analysts’ expectations of $453.55 million. SEI Investments had a return on equity of 26.05% and a net margin of 27.06%. SEI Investments’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS.

A number of brokerages have weighed in on SEIC. Oppenheimer increased their price target on SEI Investments from $65.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, April 22nd. Morgan Stanley reduced their price target on SEI Investments from $75.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 28th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, January 29th. The Goldman Sachs Group began coverage on SEI Investments in a research note on Wednesday, January 6th. They set a “buy” rating and a $70.50 price target on the stock. Finally, Raymond James reissued a “hold” rating on shares of SEI Investments in a research note on Monday, January 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. SEI Investments has an average rating of “Buy” and an average price target of $68.38.

NASDAQ:SEIC traded up $0.65 during trading hours on Friday, reaching $62.20. 9,792 shares of the company traded hands, compared to its average volume of 532,646. SEI Investments has a 1-year low of $48.61 and a 1-year high of $63.67. The stock has a market cap of $8.88 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.43 and a beta of 1.20. The firm’s 50-day moving average is $61.26 and its 200-day moving average is $57.56.

In other SEI Investments news, EVP Wayne Withrow sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $57.98, for a total value of $289,900.00. Following the transaction, the executive vice president now directly owns 40,874 shares of the company’s stock, valued at $2,369,874.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 45,951 shares of the firm’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $57.51, for a total value of $2,642,642.01. Following the completion of the transaction, the insider now directly owns 9,356,566 shares in the company, valued at $538,096,110.66. The disclosure for this sale can be found here. Insiders sold a total of 109,994 shares of company stock worth $6,373,795 over the last ninety days. Corporate insiders own 23.86% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Sei Investments Co. raised its position in SEI Investments by 154.7% in the third quarter. Sei Investments Co. now owns 7,702,483 shares of the asset manager’s stock valued at $390,670,000 after purchasing an additional 4,678,725 shares during the period. Beutel Goodman & Co Ltd. increased its stake in SEI Investments by 58.8% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 1,671,865 shares of the asset manager’s stock valued at $96,082,000 after acquiring an additional 619,280 shares during the period. Bank of New York Mellon Corp increased its stake in SEI Investments by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,486,793 shares of the asset manager’s stock valued at $85,447,000 after acquiring an additional 13,763 shares during the period. Norges Bank bought a new stake in SEI Investments in the fourth quarter valued at about $72,825,000. Finally, Schroder Investment Management Group increased its stake in SEI Investments by 50.5% in the fourth quarter. Schroder Investment Management Group now owns 1,069,478 shares of the asset manager’s stock valued at $61,463,000 after acquiring an additional 358,950 shares during the period. 73.70% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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Earnings History and Estimates for SEI Investments (NASDAQ:SEIC)

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