Brokerages Expect SEI Investments (SEIC) Will Announce Quarterly Sales of $407.67 Million

Wall Street brokerages expect that SEI Investments (NASDAQ:SEIC) will post sales of $407.67 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for SEI Investments’ earnings. The highest sales estimate is $410.92 million and the lowest is $406.00 million. SEI Investments reported sales of $408.22 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.1%. The firm is scheduled to issue its next earnings results on Wednesday, January 30th.

On average, analysts expect that SEI Investments will report full year sales of $1.63 billion for the current financial year. For the next fiscal year, analysts expect that the business will post sales of $1.68 billion, with estimates ranging from $1.65 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for SEI Investments.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Tuesday, October 23rd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $408.68 million during the quarter, compared to analyst estimates of $410.35 million. SEI Investments had a return on equity of 30.73% and a net margin of 31.46%. SEI Investments’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share.



Several research firms have recently issued reports on SEIC. BidaskClub lowered SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Keefe, Bruyette & Woods raised SEI Investments from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $68.00 to $63.00 in a report on Wednesday, October 24th. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a report on Friday. Mizuho reissued a “buy” rating and set a $85.00 price objective on shares of SEI Investments in a report on Friday, July 20th. Finally, ValuEngine lowered SEI Investments from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. SEI Investments currently has an average rating of “Hold” and a consensus price target of $75.60.

Shares of SEIC stock traded up $0.05 during trading on Thursday, hitting $52.51. The company’s stock had a trading volume of 8,617 shares, compared to its average volume of 777,555. The firm has a market cap of $8.39 billion, a PE ratio of 22.63, a P/E/G ratio of 1.41 and a beta of 1.14. SEI Investments has a 52 week low of $50.99 and a 52 week high of $78.35.

In other SEI Investments news, EVP Kevin Barr sold 25,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $59.14, for a total transaction of $1,478,500.00. Following the sale, the executive vice president now owns 69,134 shares in the company, valued at $4,088,584.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph P. Ujobai sold 1,500 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $59.80, for a total value of $89,700.00. Following the sale, the insider now owns 29,567 shares in the company, valued at approximately $1,768,106.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,973 shares of company stock valued at $2,598,794. 17.30% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Standard Life Aberdeen plc lifted its position in shares of SEI Investments by 15.7% during the second quarter. Standard Life Aberdeen plc now owns 53,030 shares of the asset manager’s stock worth $3,316,000 after acquiring an additional 7,205 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of SEI Investments by 30.9% during the second quarter. Janus Henderson Group PLC now owns 1,134,674 shares of the asset manager’s stock worth $70,940,000 after acquiring an additional 268,000 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of SEI Investments by 45.7% during the second quarter. SG Americas Securities LLC now owns 83,162 shares of the asset manager’s stock worth $5,199,000 after acquiring an additional 26,089 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of SEI Investments by 676.0% during the second quarter. Schroder Investment Management Group now owns 19,634 shares of the asset manager’s stock worth $1,233,000 after acquiring an additional 17,104 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of SEI Investments by 8.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,741 shares of the asset manager’s stock worth $1,109,000 after acquiring an additional 1,418 shares in the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.

About SEI Investments

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.

Further Reading: Google Finance Portfolio

Get a free copy of the Zacks research report on SEI Investments (SEIC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SEI Investments (NASDAQ:SEIC)

Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply