SEI Investments (NASDAQ:SEIC) Announces Earnings Results

SEI Investments (NASDAQ:SEIC) announced its earnings results on Wednesday. The asset manager reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03, Briefing.com reports. The company had revenue of $409.60 million for the quarter, compared to analysts’ expectations of $412.28 million. SEI Investments had a return on equity of 29.76% and a net margin of 29.64%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share.

Shares of NASDAQ SEIC traded up $0.43 during midday trading on Thursday, reaching $59.20. 30,415 shares of the company’s stock traded hands, compared to its average volume of 473,052. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.68 and a current ratio of 5.86. The stock’s 50 day moving average is $55.42. SEI Investments has a one year low of $42.27 and a one year high of $64.21. The stock has a market cap of $8.81 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27.

In other news, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $51.96, for a total transaction of $259,800.00. Following the transaction, the director now directly owns 10,681 shares in the company, valued at $554,984.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SEIC. Commonwealth Equity Services LLC raised its holdings in shares of SEI Investments by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 6,443 shares of the asset manager’s stock worth $361,000 after buying an additional 177 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of SEI Investments by 28.6% during the second quarter. Flagship Harbor Advisors LLC now owns 900 shares of the asset manager’s stock worth $50,000 after purchasing an additional 200 shares during the last quarter. ETF Managers Group LLC raised its holdings in shares of SEI Investments by 11.9% during the first quarter. ETF Managers Group LLC now owns 1,927 shares of the asset manager’s stock worth $101,000 after purchasing an additional 205 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of SEI Investments by 0.3% during the first quarter. Mason Street Advisors LLC now owns 68,651 shares of the asset manager’s stock worth $3,587,000 after purchasing an additional 214 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of SEI Investments by 4.3% during the second quarter. Raymond James Trust N.A. now owns 5,967 shares of the asset manager’s stock worth $335,000 after purchasing an additional 246 shares during the last quarter. 68.74% of the stock is owned by institutional investors.

Several analysts have recently commented on SEIC shares. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Keefe, Bruyette & Woods downgraded SEI Investments from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $56.00 to $64.00 in a research note on Sunday, April 14th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. ValuEngine raised China Southern Airlines from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of W W Grainger in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.50.

About SEI Investments

SEI Investments Company 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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Earnings History for SEI Investments (NASDAQ:SEIC)

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