FY2024 EPS Estimates for SEI Investments Boosted by Analyst

SEI Investments (NASDAQ:SEIC) – Investment analysts at Zacks Research lifted their FY2024 earnings per share (EPS) estimates for shares of SEI Investments in a report released on Tuesday, January 7th. Zacks Research analyst R. Department now forecasts that the asset manager will earn $4.40 per share for the year, up from their previous forecast of $4.39. The consensus estimate for SEI Investments’ current full-year earnings is $4.41 per share. Zacks Research also issued estimates for SEI Investments’ Q4 2024 earnings at $1.17 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.22 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, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year.

SEIC has been the topic of several other research reports. Oppenheimer lifted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Morgan Stanley increased their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.75.

SEI Investments Stock Performance

Shares of SEIC opened at $81.48 on Thursday. The stock has a market capitalization of $10.50 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 1 year low of $62.34 and a 1 year high of $87.25. The company’s fifty day moving average is $82.02 and its two-hundred day moving average is $72.85.

Institutional Trading of SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD purchased a new position in SEI Investments in the 2nd quarter valued at about $30,000. First Horizon Advisors Inc. raised its position in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd acquired a new stake in SEI Investments during the third quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the sale, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company’s stock.

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio is presently 23.67%.

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.