SEI Investments (NASDAQ:SEIC) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

SEI Investments (NASDAQ:SEIC) posted its earnings results on Wednesday. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02), Zacks reports. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%.

SEI Investments Stock Performance

SEI Investments stock traded down $1.43 during mid-day trading on Wednesday, hitting $82.96. The company’s stock had a trading volume of 596,955 shares, compared to its average volume of 533,706. The company has a 50 day moving average of $82.88 and a 200-day moving average of $74.54. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a market cap of $10.69 billion, a PE ratio of 20.04, a P/E/G ratio of 1.44 and a beta of 0.98.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

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

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $514,410. This trade represents a 60.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,194 shares of company stock worth $15,769,472. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Oppenheimer lifted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Finally, Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SEI Investments presently has an average rating of “Hold” and a consensus target price of $86.75.

SEI Investments Company Profile

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.