SEI Investments (NASDAQ:SEIC) Releases Earnings Results, Beats Estimates By $0.01 EPS

SEI Investments (NASDAQ:SEIC - Get Free Report) announced its quarterly earnings data on Wednesday. The asset manager reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.01, Briefing.com reports. The company had revenue of $511.58 million during the quarter, compared to the consensus estimate of $510.41 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS.

SEI Investments Price Performance

NASDAQ:SEIC traded down $0.40 during trading hours on Wednesday, reaching $66.60. 1,562,252 shares of the company were exchanged, compared to its average volume of 577,194. The company has a market capitalization of $8.76 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.37 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 business has a 50 day moving average of $68.55 and a 200 day moving average of $63.31.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 150,000 shares of the company's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now directly owns 7,884,834 shares in the company, valued at $557,852,005.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the transaction, the chairman now directly owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the transaction, the chairman now owns 7,884,834 shares of the company's stock, valued at $557,852,005.50. The disclosure for this sale can be found here. Insiders have sold 206,333 shares of company stock valued at $14,481,612 over the last 90 days. 15.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SEIC. Piper Sandler lifted their price objective on SEI Investments from $66.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, April 10th. Oppenheimer boosted their target price on SEI Investments from $77.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $70.25.

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.