SEI Investments Company (NASDAQ:SEIC) – Investment analysts at William Blair upped their FY2017 earnings per share estimates for shares of SEI Investments in a report released on Wednesday. William Blair analyst C. Shutler now forecasts that the asset manager will post earnings of $2.35 per share for the year, up from their previous estimate of $2.30. William Blair also issued estimates for SEI Investments’ Q1 2018 earnings at $0.66 EPS and Q2 2018 earnings at $0.68 EPS.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $368.02 million during the quarter, compared to the consensus estimate of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. ILLEGAL ACTIVITY WARNING: This news story was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.com-unik.info/2017/11/01/fy2017-eps-estimates-for-sei-investments-company-boosted-by-analyst-seic.html.
SEIC has been the subject of several other research reports. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Monday. BidaskClub upgraded SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Oppenheimer Holdings, Inc. raised their price objective on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. Mizuho restated a “buy” rating and issued a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $65.50.
Shares of SEI Investments (NASDAQ SEIC) opened at 64.51 on Monday. SEI Investments has a 1-year low of $43.65 and a 1-year high of $65.30. The company has a market cap of $10.20 billion, a P/E ratio of 29.58 and a beta of 1.35. The stock’s 50 day moving average price is $61.70 and its 200 day moving average price is $55.82.
A number of institutional investors have recently bought and sold shares of SEIC. OppenheimerFunds Inc. grew its holdings in SEI Investments by 14.8% during the first quarter. OppenheimerFunds Inc. now owns 6,710 shares of the asset manager’s stock worth $338,000 after purchasing an additional 863 shares during the period. FMR LLC grew its holdings in SEI Investments by 1.8% during the first quarter. FMR LLC now owns 245,094 shares of the asset manager’s stock worth $12,362,000 after purchasing an additional 4,244 shares during the period. Teachers Advisors LLC grew its holdings in SEI Investments by 3.2% during the first quarter. Teachers Advisors LLC now owns 126,330 shares of the asset manager’s stock worth $6,372,000 after purchasing an additional 3,954 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in SEI Investments during the first quarter worth about $619,000. Finally, Marshall Wace North America L.P. bought a new position in SEI Investments during the first quarter worth about $619,000. Institutional investors and hedge funds own 68.75% of the company’s stock.
In related news, insider Dennis Mcgonigle sold 15,000 shares of SEI Investments stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $56.35, for a total transaction of $845,250.00. Following the completion of the transaction, the insider now owns 612,034 shares in the company, valued at $34,488,115.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Doran sold 10,000 shares of SEI Investments stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. Following the transaction, the director now owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. Insiders sold a total of 195,000 shares of company stock valued at $11,209,750 in the last 90 days. 16.50% of the stock is owned by corporate insiders.
SEI Investments declared that its board has approved a share repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
SEI Investments Company Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
What are top analysts saying about SEI Investments Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SEI Investments Company and related companies.