Zacks Research Predicts Higher Earnings for SEI Investments

SEI Investments (NASDAQ:SEIC) – Research analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of SEI Investments in a note issued to investors on Tuesday, January 7th. Zacks Research analyst R. Department now anticipates that the asset manager will earn $4.40 per share for the year, up from their previous forecast of $4.39. The consensus estimate for SEI Investments’ current full-year earnings is $4.41 per share. Zacks Research also issued estimates for SEI Investments’ Q4 2024 earnings at $1.17 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.22 EPS.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis.

SEIC has been the subject of several other reports. Morgan Stanley increased their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price target on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Oppenheimer lifted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.75.

SEI Investments Price Performance

SEI Investments stock opened at $81.48 on Thursday. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The firm has a 50 day simple moving average of $82.02 and a 200-day simple moving average of $72.85. SEI Investments has a 1-year low of $62.34 and a 1-year high of $87.25.

Hedge Funds Weigh In On SEI Investments

Several hedge funds have recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. increased its position in SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd purchased a new stake in SEI Investments in the third quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 168 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the transaction, the chief executive officer now owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the sale, the chairman now directly owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 239,258 shares of company stock worth $19,753,402. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were paid a $0.49 dividend. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

SEI Investments announced that its board has approved a stock repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.