SEI Investments (NASDAQ:SEIC) – Equities researchers at Oppenheimer raised their FY2018 earnings estimates for shares of SEI Investments in a report issued on Monday. Oppenheimer analyst G. Greene now forecasts that the asset manager will post earnings per share of $3.23 for the year, up from their previous forecast of $2.68. Oppenheimer has a “Outperform” rating and a $67.00 price target on the stock. Oppenheimer also issued estimates for SEI Investments’ FY2019 earnings at $3.67 EPS.
Several other equities analysts also recently weighed in on SEIC. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Mizuho reiterated a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research report on Friday, October 20th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $70.25.
SEI Investments (SEIC) traded up $0.58 during midday trading on Thursday, reaching $75.58. The company had a trading volume of 532,500 shares, compared to its average volume of 604,013. The stock has a market capitalization of $11,970.00, a P/E ratio of 33.00, a PEG ratio of 2.09 and a beta of 1.40. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. SEI Investments has a 12 month low of $47.88 and a 12 month high of $75.60.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. SEI Investments’s revenue was up 3.8% compared to the same quarter last year.
SEI Investments announced that its Board of Directors has authorized a stock 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 purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a semiannual dividend, which was paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th were given a $0.30 dividend. This represents a dividend yield of 0.85%. This is an increase from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 26th. SEI Investments’s payout ratio is presently 26.20%.
In other news, insider N Jeffrey Klauder sold 10,000 shares of SEI Investments stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $64.77, for a total value of $647,700.00. Following the sale, the insider now directly owns 51,042 shares of the company’s stock, valued at $3,305,990.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sarah Blumenstein sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total value of $326,650.00. The disclosure for this sale can be found here. Insiders sold 136,250 shares of company stock worth $9,057,050 over the last 90 days. Company insiders own 16.50% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Invictus RG bought a new stake in shares of SEI Investments in the third quarter worth about $111,000. Meeder Asset Management Inc. increased its holdings in shares of SEI Investments by 7,575.0% in the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after purchasing an additional 2,424 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of SEI Investments by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after purchasing an additional 203 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of SEI Investments by 9.3% in the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after purchasing an additional 253 shares during the last quarter. Finally, Legacy Advisors LLC bought a new stake in shares of SEI Investments in the third quarter worth about $180,000. 70.47% of the stock is currently owned by hedge funds and other institutional investors.
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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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