SEI Investments (NASDAQ:SEIC) Reports Results and Meets Expectations

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SEI Investments (NASDAQ:SEIC – Get Rating) released its quarterly earnings data on Wednesday. The asset manager reported earnings per share of $1.36 for the quarter, meeting analyst consensus estimates of $1.36, MarketWatch Earnings reports. The company posted revenue of $581.44 million in the quarter, compared to $560.41 million expected by analysts. SEI Investments achieved a return on equity of 29.81% and a net margin of 28.49%. The company’s quarterly revenue increased 27.6% year over year. During the same period a year earlier, the company posted EPS of $0.89.

NASDAQ:SEIC shares were up $0.13 during Wednesday’s trading, hitting $59.25. The stock recorded trading volume of 503,368 shares, compared to an average trading volume of 643,978. SEI Investments has a 12-month low of $54.03 and a 12-month high of $65.22. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 15.51, a growth price-to-earnings ratio of 1.13 and a beta of 1.06. The company has a quick ratio of 3.87, a current ratio of 3.95 and a leverage ratio of 0.02. The stock has a 50-day simple moving average of $58.76 and a 200-day simple moving average of $60.52.

A number of equity research analysts have weighed in on SEIC shares recently. StockNews.com began covering SEI Investments in a research note on Thursday, March 31. They set a “buy” rating for the company. Oppenheimer cut his price target on SEI Investments from $75.00 to $70.00 and set an “outperform” rating for the company in a Thursday, Jan. 27 research note. Morgan Stanley cut its price target on SEI Investments from $75.00 to $68.00 and set an “equal weight” rating for the company in a Monday, March 28 research note. Finally, the Goldman Sachs Group downgraded SEI Investments from a “buy” rating to a “neutral” rating and reduced its price target for the company from $67.00 to $65.00 in a research note from the Monday, March 28 th. Four investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and a consensus target price of $67.50.

Major investors have recently changed their positions in the company. Parametric Portfolio Associates LLC increased its stake in shares of SEI Investments by 4.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 424,307 shares of the asset manager worth $25,857,000 after purchasing an additional 16,816 shares in the last quarter. Morgan Stanley increased its stake in shares of SEI Investments by 5.2% in the second quarter. Morgan Stanley now owns 279,332 shares of the asset manager worth $17,310,000 after buying an additional 13,842 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of SEI Investments by 2.7% in the fourth quarter. California State Teachers Retirement System now owns 198,334 shares of the asset manager worth $12,086,000 after buying 5,191 additional shares in the last quarter. Amalgamated Bank increased its stake in shares of SEI Investments by 3.5% in the fourth quarter. Amalgamated Bank now owns 79,411 shares of the asset manager worth $4,839,000 after buying 2,665 additional shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of SEI Investments by 3.4% in the fourth quarter. LPL Financial LLC now owns 52,070 shares of the asset manager worth $3,173,000 after buying an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s shares.

Company Profile 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.

Further reading

Earnings History for SEI Investments (NASDAQ:SEIC)



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