These Analysts Cut Their Forecasts On SEI Investments After Q2 Results

SEI Investments Company (NASDAQ:SEIC) reported better-than-expected earnings for the second quarter on Wednesday.

The company posted quarterly earnings of $1.20 per share which beat the analyst consensus estimate of $1.16 per share. The company reported quarterly sales of $559.601 million which beat the analyst consensus estimate of $555.724 million.

“SEI achieved another strong quarter across our core businesses. We are executing with conviction and discipline, positioning the company for sustained growth. As we prepare SEI to support that growth and our clients’ evolving needs, we are making intentional investments in our talent, technology, and infrastructure to enhance our capabilities and scale,” said CEO Ryan Hicke. “Our strategic investment in Stratos demonstrates our commitment to challenging ourselves to change and innovate in the pursuit of our goal to be the leading provider of wealth management solutions and services. We will continue to invest capital in areas where we have conviction that the long-term opportunity will maximize the return for our clients, employees, and shareholders.”

SEI Investments shares fell 2.1% to trade at $88.07 on Thursday.

These analysts made changes to their price targets on SEI Investments following earnings announcement.

• Piper Sandler analyst Crispin Love maintained SEI Investments with a Neutral and lowered the price target from $96 to $93.
• Keefe, Bruyette & Woods analyst Kyle Voigt reiterated SEI Investments with a Market Perform and lowered the price target from $100 to $98.

Considering buying SEIC stock? Here’s what analysts think:

Read This Next:

• Jim Cramer Loves ‘That Yield’ But Passes On This Stock: ‘Fundamentals Are Hurting’

Photo via Shutterstock