SEI Investments (NASDAQ:SEIC) Announces Earnings Results

Key Points

• SEI Investments reported earnings of $1.30 per share, exceeding analysts' expectations of $1.25 per share.
• The company has a return on equity of 29.96% and a net margin of 31.25%.
• Analysts have varying ratings on the stock, with a consensus rating of "Moderate Buy" and a price target of $104.40.

SEI Investments (NASDAQ:SEIC - Get Free Report) announced its quarterly earnings data on Wednesday. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.05, Zacks reports. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $1.06 on Wednesday, hitting $81.41. The company's stock had a trading volume of 722,642 shares, compared to its average volume of 822,604. The company has a 50-day simple moving average of $86.29 and a 200 day simple moving average of $84.68. SEI Investments has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a market capitalization of $10.06 billion, a PE ratio of 15.27, a PEG ratio of 1.23 and a beta of 0.96.

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Zacks Research raised SEI Investments from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Keefe, Bruyette & Woods dropped their price objective on SEI Investments from $98.00 to $93.00 and set a "market perform" rating on the stock in a report on Monday, October 13th. Piper Sandler dropped their price objective on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial increased their price objective on SEI Investments from $118.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

Insider Transactions at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of the firm's stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the transaction, the director directly owned 75,641 shares of the company's stock, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,000 shares of company stock valued at $5,254,950. 14.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SEI Investments

Several institutional investors and hedge funds have recently bought and sold shares of SEIC. Qube Research & Technologies Ltd grew its position in SEI Investments by 76.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 420,079 shares of the asset manager's stock worth $37,748,000 after acquiring an additional 181,586 shares during the last quarter. Squarepoint Ops LLC bought a new position in SEI Investments during the 2nd quarter worth approximately $11,960,000. Bank of America Corp DE grew its position in SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock worth $284,015,000 after acquiring an additional 133,057 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in SEI Investments during the 2nd quarter worth approximately $10,432,000. Finally, Orion Porfolio Solutions LLC grew its position in SEI Investments by 945.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 118,721 shares of the asset manager's stock worth $10,668,000 after acquiring an additional 107,368 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

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.

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