SEI Investments (NASDAQ:SEIC – Get Free Report) issued its quarterly earnings data on Wednesday. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12, Briefing.com reports. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter last year, the business earned $0.87 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis.
SEI Investments Stock Up 0.6 %
SEI Investments stock traded up $0.47 during trading hours on Friday, reaching $74.88. 119,485 shares of the company’s stock were exchanged, compared to its average volume of 579,987. The firm’s 50 day simple moving average is $68.78 and its 200 day simple moving average is $67.37. SEI Investments has a twelve month low of $52.19 and a twelve month high of $75.97. The firm has a market capitalization of $9.73 billion, a PE ratio of 19.48, a PEG ratio of 1.39 and a beta of 0.99.
SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Insider Activity
Analysts Set New Price Targets
SEIC has been the subject of several recent research reports. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer increased their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley lifted their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.50.
Check Out Our Latest Stock Analysis on SEI Investments
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.
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