SEI Investments (NASDAQ:SEIC) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

SEI Investments (NASDAQ:SEIC) released its quarterly earnings results on Wednesday. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09, Zacks reports. The firm had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%.

SEI Investments Price Performance

Shares of SEIC stock traded up $1.65 during trading on Wednesday, hitting $84.79. The company had a trading volume of 1,480,448 shares, compared to its average volume of 837,343. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $79.25 and its two-hundred day moving average is $81.84. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 15.06 and a beta of 0.94. SEI Investments has a 52 week low of $72.21 and a 52 week high of $93.96.

Analyst Ratings Changes

A number of research firms have recently commented on SEIC. UBS Group assumed coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price target for the company. Piper Sandler dropped their price objective on SEI Investments from $106.00 to $99.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods dropped their price objective on SEI Investments from $107.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Finally, Morgan Stanley decreased their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the transaction, the chairman directly owned 6,883,230 shares in the company, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total transaction of $326,960.00. Following the completion of the transaction, the insider owned 921 shares in the company, valued at approximately $75,282.54. This trade represents a 81.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 146,447 shares of company stock worth $12,318,659. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SEIC. Qube Research & Technologies Ltd grew its position in SEI Investments by 82.5% during the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after acquiring an additional 346,696 shares during the last quarter. Caisse de depot et placement du Quebec boosted its stake in shares of SEI Investments by 31.0% during the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after purchasing an additional 317,703 shares during the period. Victory Capital Management Inc. boosted its stake in shares of SEI Investments by 183.2% during the fourth quarter. Victory Capital Management Inc. now owns 382,841 shares of the asset manager’s stock valued at $31,401,000 after purchasing an additional 247,679 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of SEI Investments by 37.2% during the third quarter. Ameriprise Financial Inc. now owns 815,694 shares of the asset manager’s stock valued at $69,206,000 after purchasing an additional 221,033 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of SEI Investments by 28.2% during the fourth quarter. Franklin Resources Inc. now owns 818,694 shares of the asset manager’s stock valued at $67,149,000 after purchasing an additional 180,208 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.