SEI Investments Q3 EPS Forecast Boosted by William Blair

SEI Investments (NASDAQ:SEIC) – Stock analysts at William Blair boosted their Q3 2024 earnings per share estimates for shares of SEI Investments in a research note issued to investors on Monday, October 14th. William Blair analyst J. Schmitt now expects that the asset manager will post earnings per share of $1.08 for the quarter, up from their prior forecast of $1.06. The consensus estimate for SEI Investments’ current full-year earnings is $4.24 per share.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $73.00 target price (down previously from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Piper Sandler raised their price objective on SEI Investments from $71.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer raised their price objective on SEI Investments from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.25.

SEI Investments Stock Performance

SEIC stock opened at $73.36 on Thursday. SEI Investments has a 1 year low of $52.19 and a 1 year high of $73.45. The firm has a market cap of $9.53 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The stock has a 50-day simple moving average of $68.09 and a 200-day simple moving average of $67.31.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Creative Planning grew its position in shares of SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after acquiring an additional 182 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of SEI Investments by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 35,415 shares of the asset manager’s stock worth $2,450,000 after purchasing an additional 1,352 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of SEI Investments by 2.1% in the 3rd quarter. Inspire Investing LLC now owns 31,668 shares of the asset manager’s stock worth $2,191,000 after purchasing an additional 639 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. Finally, West Coast Financial LLC lifted its holdings in shares of SEI Investments by 1.1% in the 3rd quarter. West Coast Financial LLC now owns 117,382 shares of the asset manager’s stock worth $8,122,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total transaction of $1,850,234.12. Following the completion of the sale, the chairman now owns 7,649,577 shares in the company, valued at $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 27,419 shares of SEI Investments stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the completion of the transaction, the chairman now owns 7,649,577 shares in the company, valued at approximately $516,193,455.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 61,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total value of $4,108,960.00. Following the completion of the transaction, the chairman now owns 7,504,285 shares of the company’s stock, valued at approximately $505,488,637.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,582 shares of company stock worth $8,942,405 in the last 90 days. 14.30% of the stock is owned by corporate insiders.

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.