William Blair Forecasts SEI Investments FY2024 Earnings

SEI Investments (NASDAQ:SEIC) – Stock analysts at William Blair reduced their FY2024 earnings per share estimates for SEI Investments in a research report issued on Monday, January 13th. William Blair analyst J. Schmitt now anticipates that the asset manager will post earnings per share of $4.47 for the year, down from their previous estimate of $4.52. The consensus estimate for SEI Investments’ current full-year earnings is $4.42 per share. William Blair also issued estimates for SEI Investments’ Q4 2024 earnings at $1.24 EPS, FY2025 earnings at $4.95 EPS and FY2026 earnings at $5.35 EPS.

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

Several other brokerages also recently commented on SEIC. Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler upped their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.75.

SEI Investments Stock Up 1.3 %

NASDAQ SEIC opened at $82.96 on Thursday. SEI Investments has a 52 week low of $62.34 and a 52 week high of $87.25. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.34 and a beta of 0.98. The company has a fifty day moving average of $82.27 and a two-hundred day moving average of $73.32.

SEI Investments declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

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

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Hicke sold 10,000 shares of SEI Investments stock in a transaction on Friday, October 25th. The shares were 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 $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock valued at $19,753,402 over the last quarter. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SEI Investments

A number of institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in SEI Investments during the third quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. boosted its stake in 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 in the last quarter. Finally, Quarry LP purchased a new position in SEI Investments in the second quarter worth $136,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Company Profile

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.