Welcome to our dedicated page for SEI Investments Co news (Ticker: SEIC), a resource for investors and traders seeking the latest updates and insights on SEI Investments Co stock.
SEI Investments Company (NASDAQ: SEIC) is a prominent global provider of investment processing, management, and operations solutions. The company extends its services to corporations, financial institutions, advisors, and ultra-high-net-worth families, helping them to build and manage wealth effectively. With a focus on delivering technology and investment solutions, SEI aims to connect and optimize the financial services industry.
SEI operates through four key business segments: private banks, investment advisors, institutional investors, and investment managers. Additionally, SEI holds a minority interest in LSV Asset Management, which manages around $99 billion in assets. As of December 2023, SEI, including LSV, oversees approximately $1.4 trillion in assets. SEI's offerings include investment processing, management, and operations services designed to enhance efficiency and drive growth for its clients.
In recent developments, SEI announced its third-quarter 2023 earnings on October 25, 2023, showing strong financial performance with diluted earnings per share reaching $0.87, reflecting positive sales activity and sound expense management. The company remains focused on strategic growth and managing expenses diligently across its operations.
SEI's innovative approach includes partnerships to enhance its capabilities. For instance, in February 2024, SEI announced a strategic investment of $10 million in TIFIN, an AI innovation platform in wealth management. This collaboration aims to leverage SEI's scale and technology to drive personalized client experiences and business growth.
Moreover, SEI has expanded its services in the cybersecurity realm through SEI Sphere®, providing comprehensive cybersecurity and IT solutions. In March 2024, SEI Sphere was selected to manage IXS Holdings, Inc.'s cybersecurity and network operations to enhance operational efficiency and security.
SEI continues to demonstrate resilience and strategic focus, with its first-quarter 2024 financial results showing diluted earnings per share of $0.99. The company's strong financial position and broad capabilities enable it to deliver long-term value for clients and shareholders.
For more information, visit seic.com.
SEI (NASDAQ: SEIC) has announced a new lineup of separately managed account (SMA) strategies through their Managed Account Solutions program. The expansion includes both SEI-managed strategies and third-party options from AllianceBernstein, Loomis Sayles, and Parametric Portfolio Associates. The new offerings span equity and fixed income solutions, targeting mass-affluent, high-net-worth, and ultra-high-net-worth investors. With SMAs showing a 24.4% growth rate in the managed account category, the expansion aims to provide advisors with enhanced personalization options and tax control capabilities through both SMA and unified managed account (UMA) solutions.
SEI announced that Brown Advisory has selected the Advisors' Inner Circle (AIC) series trust platform to launch its first ETF, the Brown Advisory Flexible Equity ETF (BAFE). The fund, focusing on U.S. companies, was created through the conversion of taxable SMAs. This launch comes as the U.S. ETF market reached a record $10 trillion in September 2024.
The AIC platform, pioneered by SEI over 30 years ago, currently manages $103 billion in net assets, serving 45 clients and 121 funds. The platform enables investment organizations to launch and grow various fund types without building their own operating infrastructure.
Close Brothers Asset Management (CBAM) and SEI (NASDAQ:SEIC) have announced a strategic partnership for operational transformation. CBAM, managing approximately £20 billion in assets, will implement the SEI Wealth Platform and SEI Data Cloud for integrated technology and operational outsourcing solutions. The partnership includes data integration, migration, and orchestration services. As part of the agreement, several CBAM employees will transition to SEI's SWP Operations team. The collaboration aims to enhance CBAM's service delivery while maintaining high-quality client service levels.
SEI (NASDAQ:SEIC) announced that nine U.S. clients in its Private Banking and Wealth Management business have adopted its new professional services offering across 17 projects. The technology-agnostic offering includes seven key services: outsourced CTO services, system integration, application development, organizational change management, data cloud analytics, business process outsourcing, and workforce augmentation. These services aim to help businesses transform their technology infrastructure, improve operations, and enhance customer experience while mitigating risks and driving growth.
SEI (NASDAQ:SEIC) has launched SEIGPT, a generative AI framework designed to enhance operational excellence through rapid AI application implementation. The framework, built on retrieval augmented generation (RAG) architecture, is currently being used internally to improve productivity and efficiency in areas including client service, process automation, HR, and code development.
The system has already processed over 7,000 client service inquiries and analyzed thousands of legal contract pages. SEI plans to expand from seven current applications to more than a dozen by end of 2024, with potential future offerings to clients to drive mutual productivity and growth.
SEI Investments Company reported strong Q3 2024 financial results with record-breaking performance. Revenue increased 13% to $537.4 million, while operating income grew 33% to $143.8 million compared to Q3 2023. Diluted EPS rose 37% to $1.19, marking the second-highest level in company history. The company achieved record net sales events of $46.4 million and total assets under management, administration, and advisement reached a new high of approximately $1.6 trillion. Operating margins improved to 26.8%, with all business segments showing growth in both revenue and operating margins.
SEI Investments Company (SEIC) has announced a significant expansion of its stock repurchase program. The Board of Directors has approved an increase of $400 million to the existing program, bringing the total available authorization to approximately $429 million. This new authorization includes the $29 million remaining from the company's previous share repurchase allowance.
The decision, made on October 22, 2024, demonstrates SEI's commitment to enhancing shareholder value and confidence in the company's financial position. Stock buybacks typically aim to reduce the number of outstanding shares, potentially increasing earnings per share and the stock's value for remaining shareholders.
SEI (NASDAQ: SEIC) has announced its plans to release third-quarter 2024 earnings on Wednesday, Oct. 23, 2024, after the market closes. The company will host a conference call to discuss the financial results at 5 p.m. Eastern time on the same day. Investors and the public are invited to listen to the call and access a replay of the event through the company's website at www.seic.com/ir-events.
SEI (NASDAQ:SEIC) announced that Trinity Financial Partners (Trinity) surpassed $500 million in assets under advisement (AUA), marking a significant growth milestone. Trinity, founded in 1972 and based in Berwyn, PA, leverages SEI's capabilities across asset management, technology, and operations. The firm provides comprehensive financial planning services, with expertise in tax optimization, estate planning, and complex charitable strategies.
Led by President Robyn Jameson, Trinity has approximately $575 million in total AUA as of June 30, 2024. The firm utilizes SEI's suite of separately managed account (SMA) investment strategies, Unified Managed Account (UMA) framework, and integrated advisor and investor technology. SEI's Executive Managing Director of Client Experience, Erich Holland, emphasized the company's commitment to enhancing capabilities to support advisor growth.
SEI (NASDAQ: SEIC) announced an expanded strategic partnership with Knights of Columbus Asset Advisors (KoCAA). KoCAA is moving over $500 million in assets under management to the SEI Wealth Platform, enhancing their existing relationship which already includes SEI's fund administration services. KoCAA, a full-service investment firm dedicated to Catholic principles, manages $27 billion in AUM as of June 30, 2024.
The partnership leverages SEI's capabilities in technology, operations, asset management, and advisor services. KoCAA benefits from SEI's client asset custody structure, advisor and investor technology, and dedicated service model. This expansion aims to provide a more personalized, connected experience for KoCAA's clients while allowing the firm to scale its business efficiently.
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