SEI Investments estimates lowered at Raymond James

Raymond James analyst Patrick O’Shaughnessy lowered the firm’s Q4 and out-year revenue and EPS estimates for SEI Investments (SEIC) ahead of the company’s release of Q4 results, noting that market performance during the quarter was below the assumptions embedded within the prior model update in late October. The firm, which says it would prefer to see sustained sales momentum and/or a more attractive valuation entry point before getting more constructive, maintains a Market Perform rating on SEI Investments shares.