SEI Investments FY2024 EPS Forecast Raised by Zacks Research

SEI Investments (NASDAQ:SEIC) – Investment analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for SEI Investments in a note issued to investors on Monday, December 2nd. Zacks Research analyst R. Department now expects that the asset manager will post earnings of $4.37 per share for the year, up from their previous estimate of $4.36. 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 $1.14 EPS, Q1 2025 earnings at $1.12 EPS, Q2 2025 earnings at $1.16 EPS, Q4 2025 earnings at $1.30 EPS, FY2025 earnings at $4.79 EPS, Q1 2026 earnings at $1.25 EPS, Q2 2026 earnings at $1.28 EPS and FY2026 earnings at $5.18 EPS.

Several other research analysts also recently commented on the company. Morgan Stanley raised their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer raised their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $77.50.

SEI Investments Price Performance

NASDAQ:SEIC opened at $83.82 on Wednesday. SEI Investments has a 1 year low of $59.48 and a 1 year high of $83.86. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.54 and a beta of 0.98. The business has a 50 day simple moving average of $75.95 and a 200-day simple moving average of $69.82.

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

Hedge Funds Weigh In On SEI Investments

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. Geode Capital Management LLC grew its stake in SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after acquiring an additional 300,704 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SEI Investments by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments during the 2nd quarter valued at $7,787,000. Finally, Verition Fund Management LLC grew its stake in shares of SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after buying an additional 107,222 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In related news, Director Carl Guarino sold 7,564 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the transaction, the director now owns 13,867 shares of the company’s stock, valued at $1,050,702.59. This represents a 35.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,064 shares of company stock worth $5,173,529. Corporate insiders own 14.30% of the company’s stock.

SEI Investments declared that its board has authorized a stock buyback plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.