Zacks Research Boosts Earnings Estimates for SEI Investments

SEI Investments (NASDAQ:SEIC) – Equities researchers at Zacks Research lifted their FY2024 earnings estimates for SEI Investments in a research note issued to investors on Tuesday, January 7th. Zacks Research analyst R. Department now expects that the asset manager will post earnings of $4.40 per share for the year, up from their prior estimate of $4.39. The consensus estimate for SEI Investments’ current full-year earnings is $4.41 per share. Zacks Research also issued estimates for SEI Investments’ Q4 2024 earnings at $1.17 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.22 EPS.

A number of other research firms have also weighed in on SEIC. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.75.

SEI Investments Stock Performance

SEI Investments stock opened at $79.00 on Thursday. The stock has a 50-day simple moving average of $82.02 and a 200 day simple moving average of $72.85. The stock has a market capitalization of $10.18 billion, a P/E ratio of 19.08, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 52 week low of $62.34 and a 52 week high of $87.25.

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

Institutional Investors Weigh In On SEI Investments

A number of hedge funds have recently made changes to their positions in SEIC. Texas Permanent School Fund Corp boosted its stake in shares of SEI Investments by 9.6% during the second quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after purchasing an additional 8,387 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in SEI Investments by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after buying an additional 8,094 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in SEI Investments by 12.1% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after acquiring an additional 8,243 shares during the last quarter. Portfolio Design Labs LLC acquired a new position in SEI Investments in the 3rd quarter valued at approximately $1,701,000. Finally, Quantinno Capital Management LP raised its stake in shares of SEI Investments by 56.7% during the third quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after acquiring an additional 6,364 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Philip Mccabe sold 10,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares of the company’s stock, valued at $3,305,425.04. This represents a 19.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the sale, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is owned by company insiders.

SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 23.67%.

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.