Analysts expect SEI Investments (NASDAQ:SEIC) to post sales of $398.97 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings, with the highest sales estimate coming in at $404.00 million and the lowest estimate coming in at $395.10 million. SEI Investments posted sales of $405.60 million during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The company is expected to announce its next earnings results on Wednesday, April 24th.
On average, analysts expect that SEI Investments will report full-year sales of $1.63 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.74 billion, with estimates ranging from $1.70 billion to $1.77 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow SEI Investments.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 30th. The asset manager reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.01). The company had revenue of $405.05 million during the quarter, compared to analysts’ expectations of $403.45 million. SEI Investments had a return on equity of 31.39% and a net margin of 31.15%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS.
In other SEI Investments news, EVP Wayne Withrow sold 4,997 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $47.50, for a total transaction of $237,357.50. Following the completion of the transaction, the executive vice president now owns 36,711 shares of the company’s stock, valued at $1,743,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 212,995 shares of SEI Investments stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $53.41, for a total transaction of $11,376,062.95. Following the completion of the sale, the insider now directly owns 10,144,708 shares of the company’s stock, valued at approximately $541,828,854.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 511,223 shares of company stock worth $27,124,902. 17.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Ruggie Capital Group bought a new stake in SEI Investments in the 4th quarter worth approximately $27,000. Sterling Investment Advisors Ltd. bought a new stake in SEI Investments in the 3rd quarter worth approximately $100,000. First Hawaiian Bank bought a new stake in SEI Investments in the 3rd quarter worth approximately $102,000. ETF Managers Group LLC grew its position in SEI Investments by 15.7% in the 4th quarter. ETF Managers Group LLC now owns 1,722 shares of the asset manager’s stock worth $80,000 after purchasing an additional 234 shares during the period. Finally, SRS Capital Advisors Inc. bought a new stake in SEI Investments in the 3rd quarter worth approximately $128,000. 69.33% of the stock is owned by institutional investors and hedge funds.
NASDAQ SEIC traded up $1.66 on Friday, reaching $49.20. The company had a trading volume of 1,499,926 shares, compared to its average volume of 786,283. The company has a market capitalization of $7.65 billion, a PE ratio of 15.67, a P/E/G ratio of 1.39 and a beta of 1.19. SEI Investments has a 52 week low of $42.27 and a 52 week high of $78.35.
SEI Investments declared that its board has approved a share buyback program on Tuesday, December 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a semiannual dividend, which was paid on Tuesday, January 8th. Shareholders of record on Thursday, December 27th were issued a $0.33 dividend. This is an increase from SEI Investments’s previous semiannual dividend of $0.30. This represents a dividend yield of 1.33%. The ex-dividend date was Wednesday, December 26th. SEI Investments’s dividend payout ratio is 21.02%.
SEI Investments Company Profile
SEI Investments Co 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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