SEI Investments (NASDAQ:SEIC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

SEI Investments (NASDAQ:SEIC) announced its quarterly earnings results on Wednesday. The asset manager reported $1.05 EPS for the quarter, topping the consensus estimate of $1.04 by $0.01, Briefing.com reports. The business had revenue of $518.99 million for the quarter, compared to analyst estimates of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS.

SEI Investments Trading Up 1.2 %

NASDAQ:SEIC traded up $0.81 on Friday, reaching $66.88. The stock had a trading volume of 743,866 shares, compared to its average volume of 676,479. The company has a 50-day moving average of $66.32 and a 200 day moving average of $66.91. The stock has a market cap of $8.79 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.75%. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, June 10th. SEI Investments’s dividend payout ratio is 25.14%.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a report on Thursday. Piper Sandler dropped their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Oppenheimer upped their price objective on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.25.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director William Doran sold 5,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other SEI Investments news, Director William Doran sold 5,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the completion of the sale, the chairman now owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The disclosure for this sale can be found here. Insiders sold a total of 123,000 shares of company stock valued at $8,406,920 in the last ninety days. Insiders own 14.30% of the company’s stock.

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.