SEI Investments (NASDAQ:SEIC) Announces Quarterly Earnings Results

Key Points

• SEI Investments beat quarterly expectations: Earnings were $1.64 per share versus the $1.58 consensus estimate, while revenue reached $662.04 million compared with expectations of $656.25 million.
• Shares rose 1.2% to $108.43 following the results. Analysts remain generally bullish, with eight Buy ratings, one Hold rating, and a consensus price target of $124.83.
• Insiders have been selling shares: Company insiders sold 158,777 shares worth approximately $16.6 million over the past three months, while insiders retain a 4.8% ownership stake.

SEI Investments (NASDAQ:SEIC - Get Free Report) posted its quarterly earnings results on Wednesday. The asset manager reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.06, FiscalAI reports. The business had revenue of $662.04 million during the quarter, compared to analysts' expectations of $656.25 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%.

SEI Investments Trading Up 1.2%

Shares of SEI Investments stock traded up $1.28 on Wednesday, reaching $108.43. The company had a trading volume of 643,227 shares, compared to its average volume of 786,904. The firm's 50 day moving average price is $106.46 and its two-hundred day moving average price is $96.50. The firm has a market cap of $13.01 billion, a PE ratio of 19.12 and a beta of 0.97. SEI Investments has a 52-week low of $75.08 and a 52-week high of $112.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06.

Analyst Ratings Changes

SEIC has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of SEI Investments from $120.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods raised their target price on SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Wells Fargo & Company began coverage on SEI Investments in a research report on Friday, October 2nd. They issued an "overweight" rating and a $129.00 target price on the stock. Finally, UBS Group reaffirmed a "buy" rating and issued a $125.00 price target on shares of SEI Investments in a research note on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus target price of $124.83.

Insider Activity

In related news, Chairman Alfred West, Jr. sold 28,394 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $103.40, for a total value of $2,935,939.60. Following the completion of the sale, the chairman owned 6,790,057 shares in the company, valued at approximately $702,091,893.80. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Warner sold 15,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the completion of the sale, the insider owned 921 shares of the company's stock, valued at $94,264.35. This trade represents a 94.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 158,777 shares of company stock worth $16,642,433 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

About SEI Investments

SEI Investments Company is a financial technology and investment services provider headquartered in Oaks, Pennsylvania. Founded in 1968, the company delivers technology, operations, and investment solutions that help financial institutions and investment professionals manage client assets and business processes.

SEI's offerings include wealth management and investment processing platforms, portfolio accounting, data management, compliance support, and outsourced middle- and back-office services.

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