FY2024 EPS Estimates for SEI Investments Boosted by Analyst

SEI Investments (NASDAQ:SEIC) – Analysts at Zacks Research lifted their FY2024 EPS estimates for SEI Investments in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the asset manager will earn $4.36 per share for the year, up from their prior estimate of $4.16. The consensus estimate for SEI Investments’ current full-year earnings is $4.38 per share. Zacks Research also issued estimates for SEI Investments’ Q4 2024 earnings at $1.13 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.14 EPS, Q3 2025 earnings at $1.20 EPS, Q4 2025 earnings at $1.26 EPS, FY2025 earnings at $4.70 EPS, Q1 2026 earnings at $1.22 EPS, Q2 2026 earnings at $1.25 EPS, Q3 2026 earnings at $1.31 EPS and FY2026 earnings at $5.09 EPS.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS.

Several other brokerages have also issued reports on SEIC. Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley lifted their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. Finally, Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Stock Down 1.6 %

NASDAQ:SEIC opened at $80.23 on Friday. The company has a market capitalization of $10.34 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.54 and a beta of 0.97. SEI Investments has a 52 week low of $57.43 and a 52 week high of $81.97. The stock’s fifty day moving average is $72.36 and its two-hundred day moving average is $68.57.

SEI Investments declared that its board has approved a share repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 44,163 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $67.55, for a total value of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares in the company, valued at approximately $513,745,715.70. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl Guarino sold 7,564 shares of SEI Investments stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the completion of the transaction, the director now owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is currently owned by corporate insiders.

Institutional Trading of SEI Investments

A number of large investors have recently made changes to their positions in the company. Aurora Investment Counsel lifted its stake in SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after acquiring an additional 144 shares during the last quarter. IFG Advisory LLC grew its stake in shares of SEI Investments by 0.3% during the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock worth $3,831,000 after purchasing an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of SEI Investments by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. Creative Planning increased its holdings in SEI Investments by 2.3% in the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares during the last quarter. Finally, Diversified Trust Co raised its stake in SEI Investments by 0.4% in the second quarter. Diversified Trust Co now owns 54,212 shares of the asset manager’s stock valued at $3,507,000 after buying an additional 202 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.