Zacks: Analysts expect SEI Investments (NASDAQ:SEIC) to report earnings of $0.97 per share

Analysts expect SEI Investments (NASDAQ:SEIC – Get Rating) to report earnings of $0.97 per share for the current fiscal quarter, reports Zacks Investment Research. Four analysts provided earnings estimates for SEI Investments, with the highest EPS estimate being $1.04 and the lowest estimate being $0.94. SEI Investments reported earnings of $0.89 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The company is expected to announce its next earnings report on Monday, January 1.

According to Zacks, analysts expect SEI Investments to report annual earnings of $3.86 per share for the current year, with EPS estimates ranging from $3.78 to $4.00. For the next fiscal year, analysts expect the company to post earnings of $4.13 per share, with EPS estimates ranging from $4.08 to $4.25. Zacks Investment Research earnings per share averages are an average average based on a survey of sell-side research analysts who provide coverage for SEI Investments.

SEI Investments (NASDAQ:SEIC – Get Rating) last released its results on Wednesday, January 26. The asset manager reported earnings per share of $1.03 for the quarter, beating the consensus estimate of $0.97 by $0.06. The company posted revenue of $501.65 million for the quarter, versus analyst estimates of $487.85 million. SEI Investments generated a net margin of 28.49% and a return on equity of 29.81%. The company’s revenue for the quarter increased by 13.1% compared to the same quarter last year. In the same period a year earlier, the company posted earnings of $0.86 per share.

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A number of equity research analysts have weighed in on the stock recently. Oppenheimer lowered his price target on SEI Investments shares from $75.00 to $70.00 and set an “outperform” rating for the company in a Thursday, January 27 report. Morgan Stanley lowered its price target on SEI Investments shares from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Goldman Sachs Group downgraded SEI Investments shares from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $67.00 to $65.00 in a note. research on Monday. Four investment analysts gave the stock a hold rating and one gave the company a buy rating. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.50.

NASDAQ:SEIC opened at $60.64 on Tuesday. The company has a quick ratio of 3.87, a current ratio of 3.95 and a leverage ratio of 0.02. The company has a market capitalization of $8.39 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.31 and a beta of 1.06. SEI Investments has a fifty-two week low of $54.03 and a fifty-two week high of $65.22. The company’s 50-day moving average is $58.68 and its two-hundred-day moving average is $60.56.

SEI Investments announced that its board of directors authorized a stock buyback program on Monday, December 13 that allows the company to repurchase $200.00 million of outstanding stock. This redemption authorization allows the asset manager to purchase up to 2.3% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have been buying and selling stocks recently. Norges Bank bought a new equity position from SEI Investments in the fourth quarter worth $58,898,000. Westwood Holdings Group Inc. increased its position in SEI Investments shares by 70.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 30,598 shares of the asset manager worth $1,864,000 after purchasing an additional 12,629 shares during the period. JustInvest LLC bought a new position in SEI Investments in the fourth quarter worth approximately $208,000. Comerica Bank increased its holdings of SEI Investments shares by 0.4% during the fourth quarter. Comerica Bank now owns 49,884 shares of the asset manager worth $2,886,000 after buying 176 more shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings of SEI Investments shares by 20.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 754,533 shares of the asset manager worth $45,981,000 after buying an additional 126,519 shares in the last quarter. 69.63% of the shares are held by institutional investors and hedge funds.

Company Profile SEI Investments (Get a rating)

SEI Investments Co is engaged in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers and New Venture Investments. The Private Banks segment provides outsourced investment processing and management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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SEI Earnings History and Investment Estimates (NASDAQ:SEIC)

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