SEI Investments (NASDAQ:SEIC) – Equities researchers at Oppenheimer increased their FY2018 earnings estimates for SEI Investments in a note issued to investors on Monday. Oppenheimer analyst G. Greene now anticipates that the asset manager will post earnings per share of $3.23 for the year, up from their prior estimate of $2.68. Oppenheimer has a “Outperform” rating and a $67.00 price objective on the stock. Oppenheimer also issued estimates for SEI Investments’ FY2019 earnings at $3.67 EPS.
Several other analysts have also issued reports on the company. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective on the stock in a research note on Friday, January 5th. Mizuho restated a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research note on Friday, November 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.25.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share.
A number of large investors have recently modified their holdings of SEIC. Victory Capital Management Inc. grew its position in SEI Investments by 21.3% during the second quarter. Victory Capital Management Inc. now owns 27,382 shares of the asset manager’s stock worth $1,473,000 after buying an additional 4,808 shares in the last quarter. Pacer Advisors Inc. grew its position in SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after buying an additional 203 shares in the last quarter. Tredje AP fonden grew its position in SEI Investments by 35.6% during the second quarter. Tredje AP fonden now owns 7,080 shares of the asset manager’s stock worth $381,000 after buying an additional 1,859 shares in the last quarter. Alliancebernstein L.P. grew its position in SEI Investments by 2.7% during the second quarter. Alliancebernstein L.P. now owns 96,216 shares of the asset manager’s stock worth $5,174,000 after buying an additional 2,561 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in SEI Investments by 57.6% during the second quarter. Riverhead Capital Management LLC now owns 12,920 shares of the asset manager’s stock worth $695,000 after buying an additional 4,720 shares in the last quarter. 70.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the sale, the insider now owns 10,619,272 shares of the company’s stock, valued at $686,429,742.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wayne Withrow sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total value of $703,500.00. The disclosure for this sale can be found here. Insiders sold 136,250 shares of company stock worth $9,057,050 in the last ninety days. 16.50% of the stock is owned by company insiders.
The company also recently announced a semiannual dividend, which was paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th were given a $0.30 dividend. This is an increase from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date was Tuesday, December 26th. This represents a dividend yield of 0.85%. SEI Investments’s dividend payout ratio is presently 26.09%.
SEI Investments announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors 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.
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