Q1 2024 Earnings Estimate for SEI Investments Issued By William Blair (NASDAQ:SEIC)

SEI Investments (NASDAQ:SEIC - Free Report) - William Blair boosted their Q1 2024 earnings per share (EPS) estimates for SEI Investments in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt now forecasts that the asset manager will post earnings of $0.97 per share for the quarter, up from their prior estimate of $0.96. The consensus estimate for SEI Investments' current full-year earnings is $4.07 per share. William Blair also issued estimates for SEI Investments' Q2 2024 earnings at $1.00 EPS, Q3 2024 earnings at $1.02 EPS, Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $4.07 EPS and FY2025 earnings at $4.39 EPS.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting analysts' consensus estimates of $0.91. The company had revenue of $484.86 million for the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same period in the previous year, the business earned $0.83 earnings per share.

SEIC has been the topic of several other reports. Piper Sandler boosted their target price on SEI Investments from $66.00 to $72.00 and gave the stock a "neutral" rating in a report on Wednesday. Oppenheimer upped their target price on shares of SEI Investments from $77.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Hold" and an average price target of $70.25.

SEI Investments Stock Performance

NASDAQ SEIC traded down $1.36 during trading on Friday, reaching $67.48. 384,889 shares of the company traded hands, compared to its average volume of 569,770. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.41 and a beta of 1.02. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The stock's 50 day moving average price is $68.50 and its two-hundred day moving average price is $62.89.

Institutional Investors Weigh In On SEI Investments

Several hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in SEI Investments by 17.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,015 shares of the asset manager's stock valued at $65,000 after acquiring an additional 150 shares during the period. Baird Financial Group Inc. increased its holdings in shares of SEI Investments by 1.1% during the third quarter. Baird Financial Group Inc. now owns 15,900 shares of the asset manager's stock worth $780,000 after purchasing an additional 172 shares during the period. Gould Capital LLC increased its holdings in shares of SEI Investments by 1.3% during the third quarter. Gould Capital LLC now owns 14,744 shares of the asset manager's stock worth $872,000 after purchasing an additional 195 shares during the period. VisionPoint Advisory Group LLC increased its holdings in shares of SEI Investments by 67.1% during the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager's stock worth $31,000 after purchasing an additional 206 shares during the period. Finally, Gries Financial LLC increased its holdings in shares of SEI Investments by 0.5% during the second quarter. Gries Financial LLC now owns 41,718 shares of the asset manager's stock worth $2,487,000 after purchasing an additional 210 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Wayne Withrow sold 16,970 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the transaction, the executive vice president now directly owns 55,399 shares of the company's stock, valued at approximately $3,665,197.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Mark Andrew Warner sold 3,000 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $67.31, for a total value of $201,930.00. Following the completion of the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $87,503. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wayne Withrow sold 16,970 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the sale, the executive vice president now owns 55,399 shares of the company's stock, valued at $3,665,197.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,333 shares of company stock valued at $14,481,612. Company insiders own 15.50% of the company's stock.

SEI Investments declared that its Board of Directors has approved a stock buyback program on Friday, December 15th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management 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.