$455.95 Million in Sales Expected for SEI Investments (NASDAQ:SEIC) This Quarter


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Equities analysts expect SEI Investments (NASDAQ:SEIC) to report sales of $455.95 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for SEI Investments’ earnings, with estimates ranging from $451.70 million to $461.14 million. SEI Investments posted sales of $414.76 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, April 21st.

On average, analysts expect that SEI Investments will report full year sales of $1.86 billion for the current year, with estimates ranging from $1.83 billion to $1.88 billion. For the next year, analysts expect that the company will post sales of $1.92 billion, with estimates ranging from $1.86 billion to $1.97 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover SEI Investments.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 21st. The asset manager reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The company had revenue of $455.69 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share.

Several brokerages have recently issued reports on SEIC. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday, January 29th. Raymond James reaffirmed a “hold” rating on shares of SEI Investments in a report on Monday, January 11th. Morgan Stanley lifted their target price on SEI Investments from $74.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, April 1st. Finally, The Goldman Sachs Group began coverage on SEI Investments in a report on Wednesday, January 6th. They issued a “buy” rating and a $70.50 target price on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $63.10.

NASDAQ:SEIC traded up $0.37 on Wednesday, reaching $63.01. 574,447 shares of the company’s stock traded hands, compared to its average volume of 478,663. SEI Investments has a 12 month low of $45.96 and a 12 month high of $63.67. The stock has a 50-day simple moving average of $60.99 and a 200-day simple moving average of $57.24. The firm has a market cap of $9.04 billion, a PE ratio of 21.07, a P/E/G ratio of 1.43 and a beta of 1.20.

In other SEI Investments news, EVP Wayne Withrow sold 5,000 shares of the 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 completion of the sale, the executive vice president now directly owns 40,874 shares in the company, valued at $2,369,874.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Alfred P. West, Jr. sold 54,043 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $58.20, for a total value of $3,145,302.60. Following the completion of the sale, the insider now owns 9,356,566 shares of the company’s stock, valued at $544,552,141.20. The disclosure for this sale can be found here. Insiders have sold a total of 109,994 shares of company stock valued at $6,373,795 over the last 90 days. 23.86% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in SEIC. HM Payson & Co. acquired a new position in shares of SEI Investments in the third quarter valued at about $30,000. Meeder Asset Management Inc. increased its holdings in shares of SEI Investments by 259.6% in the fourth quarter. Meeder Asset Management Inc. now owns 658 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 475 shares during the period. Accel Wealth Management acquired a new position in shares of SEI Investments in the fourth quarter valued at about $120,000. US Bancorp DE increased its holdings in shares of SEI Investments by 21.7% in the fourth quarter. US Bancorp DE now owns 2,688 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 480 shares during the period. Finally, CI Investments Inc. increased its holdings in shares of SEI Investments by 148.9% in the fourth quarter. CI Investments Inc. now owns 2,795 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 1,672 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

About SEI Investments

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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