Brokers Issue Forecasts for SEI Investments’ Q2 2024 Earnings (NASDAQ:SEIC)

SEI Investments (NASDAQ:SEIC) – Analysts at William Blair upped their Q2 2024 earnings per share (EPS) estimates for SEI Investments in a research report issued on Thursday, April 25th. William Blair analyst J. Schmitt now forecasts that the asset manager will earn $1.05 per share for the quarter, up from their previous estimate of $1.00. The consensus estimate for SEI Investments’ current full-year earnings is $4.08 per share. William Blair also issued estimates for SEI Investments’ Q3 2024 earnings at $1.07 EPS, Q4 2024 earnings at $1.14 EPS, FY2024 earnings at $4.25 EPS and FY2025 earnings at $4.62 EPS.

A number of other research firms have also recently issued reports on SEIC. Oppenheimer upped their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price objective (up previously from $72.00) on shares of SEI Investments in a report on Thursday. Piper Sandler lowered their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday. Finally, StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.00.

SEI Investments Stock Performance

SEIC opened at $66.57 on Friday. The business’s 50-day simple moving average is $68.58 and its 200 day simple moving average is $63.41. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54. The firm has a market capitalization of $8.76 billion, a PE ratio of 18.19, a PEG ratio of 1.36 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 23.40%. The firm had revenue of $511.58 million during the quarter, compared to analysts’ expectations of $510.41 million. During the same quarter last year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year.

Insider Buying and Selling

In related news, EVP Wayne Withrow sold 16,970 shares of SEI Investments stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total value of $1,122,735.20. Following the transaction, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Sanjay Sharma sold 15,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.20, for a total value of $1,008,000.00. Following the transaction, the insider now directly owns 16,895 shares of the company’s stock, valued at approximately $1,135,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Withrow sold 16,970 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total value of $1,122,735.20. Following the sale, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at approximately $3,665,197.84. The disclosure for this sale can be found here. Insiders sold a total of 206,333 shares of company stock valued at $14,481,612 in the last three months. Insiders own 15.50% of the company’s stock.

Institutional Trading of SEI Investments

Several large investors have recently made changes to their positions in SEIC. VisionPoint Advisory Group LLC increased its stake in SEI Investments by 67.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in SEI Investments by 6,277.8% during the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 565 shares during the last quarter. Evolution Advisers Inc. purchased a new position in shares of SEI Investments during the fourth quarter valued at approximately $55,000. Neo Ivy Capital Management purchased a new stake in SEI Investments in the 4th quarter valued at $61,000. Finally, Principal Securities Inc. purchased a new position in SEI Investments during the 4th quarter worth $66,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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.