Analysts predict SEI Investments (NASDAQ:SEIC – Get Rating) will report $488.08 million in sales for the current fiscal quarter, Zacks reports. Five analysts have released earnings estimates for SEI Investments, with the lowest sales estimate at $474.46 million and the highest estimate at $496.92 million. SEI Investments reported sales of $475.65 million in the same quarter last year, suggesting a positive year-over-year growth rate of 2.6%. The company is due to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect SEI Investments to report annual revenue of $2.04 billion for the current fiscal year, with estimates ranging from $1.92 billion to $2.09 billion. . For the next fiscal year, analysts expect the company to post sales of $2.05 billion, with estimates ranging from $2.00 billion to $2.08 billion. Zacks’ sell calculations are an average based on a survey of sell-side analysts who provide coverage for SEI Investments.
SEI Investments (NASDAQ:SEIC – Get Rating) last released its results on Wednesday, April 20. The asset manager reported EPS of $1.36 for the quarter, missing analyst consensus estimates of $1.37 per ($0.01). The company posted revenue of $581.44 million in the quarter, versus analyst estimates of $560.41 million. SEI Investments generated a net margin of 29.72% and a return on equity of 32.49%. The company’s revenue increased 27.6% year over year. In the same quarter a year earlier, the company earned earnings per share of $0.89.
Several equity analysts weighed in on the stock. Oppenheimer lowered his price target on SEI Investments shares from $75.00 to $70.00 and set an “outperform” rating on the stock in a Thursday, January 27 research report. Goldman Sachs Group downgraded shares of SEI Investments from a “buy” rating to a “neutral” rating and lowered its price target for the company from $67.00 to $65.00 in a research report from the Monday, March 28 th. Morgan Stanley cut its price target on SEI Investments shares from $68.00 to $62.00 and set an “equal weight” rating for the company in a Thursday, April 21 research report. StockNews.com took over coverage of SEI Investments stocks in a Thursday, March 31 research note. They issued a “buy” rating on the stock. Finally, Zacks Investment Research moved SEI Investments shares from a buy to a hold rating and set a price target of $60.00 for the stock. in a research note from Friday, April 22. Five research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.80.
Major investors have recently changed their positions in the company. First Trust Advisors LP increased its stake in SEI Investments by 311.8% during the 4th quarter. First Trust Advisors LP now owns 1,376,254 shares in the asset manager worth $83,869,000 after purchasing an additional 1,042,033 shares during the period. Norges Bank bought a new position in SEI Investments during the fourth quarter worth $58,898,000. Ceredex Value Advisors LLC purchased a new stake in shares of SEI Investments during the first quarter at a value of $29,924,000. Millennium Management LLC increased its position in SEI Investments shares by 124.3% in the third quarter. Millennium Management LLC now owns 773,559 shares of the asset manager worth $45,872,000 after purchasing an additional 428,630 shares last quarter. Finally, Brown Advisory Inc. increased its stake in SEI Investments by 132.4% in the fourth quarter. Brown Advisory Inc. now owns 616,820 shares of the asset manager valued at $37,589,000 after acquiring an additional 351,420 shares in the last quarter. 70.44% of the shares are currently held by institutional investors.
NASDAQ:SEIC shares opened at $54.67 on Wednesday. The stock has a market capitalization of $7.50 billion, a price/earnings ratio of 12.74, a PEG ratio of 1.14 and a beta of 1.04. SEI Investments has a 12-month low of $53.90 and a 12-month high of $65.22. The stock’s 50-day moving average price is $58.15 and its 200-day moving average price is $60.13. The company has a debt ratio of 0.02, a current ratio of 5.19 and a quick ratio of 5.08.
About SEI Investments (Get a rating)
SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions , financial services and investment advice.
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