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 Investments Company (NASDAQ: SEIC) has announced a semi-annual dividend increase from $0.46 to $0.49 per share. The dividend was declared by the Board of Directors on December 12, 2024. Shareholders of record as of December 27, 2024, will receive the cash dividend payment on January 8, 2025. This represents a 6.5% increase from the previous semi-annual dividend.
SEI (NASDAQ:SEIC) has filed an exemptive application with the SEC to establish an ETF multi-share class structure for mutual funds it administers and distributes. This initiative aims to provide investment flexibility and growth opportunities for investment advisors using SEI's Advisors' Inner Circle (AIC) platform.
Unlike most applications filed by investment advisors, SEI's application is filed through its mutual fund administration and distribution subsidiaries. If approved, investment advisors using SEI's AIC platform can leverage SEI's exemption without filing their own applications, saving costs and time.
The AIC platform currently serves 45 clients and 121 funds with over $100 billion in assets under management as of September 30, 2024.
SEI (NASDAQ: SEIC) has acquired Boston-based tax-smart technology provider LifeYield, becoming the first in the industry to offer real-time, automated unified managed household (UMH) capabilities in a fully bundled overlay solution. The integration will enable tax-efficient investing at scale, providing comprehensive UMH capabilities including asset location, tax-loss harvesting, and withdrawal optimization across multiple household accounts.
The acquisition builds upon their 2022 strategic partnership and will integrate LifeYield's APIs into the SEI Wealth Platform. This move aims to serve the growing demand for tax management and personalized portfolio management, particularly targeting Millennials, Gen X, and retiring baby boomers. According to Cerulli, 86% of financial advisors consider quantifying and reporting tax management's impact essential for their business.
SEI (NASDAQ:SEIC) and the Philadelphia Phillies have announced their second annual mural contest for Citizens Bank Park during the 2025 MLB season. Local artists are invited to submit concepts around the theme of 'Connecting Communities' by February 14, 2025.
The winning artist will receive a $10,000 cash prize and have their mural displayed above Ashburn Alley, along with promotional opportunities and on-field recognition. First and second runners-up will receive game tickets, and all submissions may be considered for display at SEI's headquarters. The organizations will make a charitable contribution from their co-branded fund, and the mural will be relocated to SEI's Oaks headquarters after the season.
SEI (NASDAQ:SEIC) has been selected by Arrow Global Group , a European alternative asset manager, to support fund administration, loan operations, and investor services for its Luxembourg-based private credit fund. SEI ranks 7th out of 129 fund administrators in Luxembourg and is the largest private credit fund administrator globally by assets. The partnership aims to provide Arrow Global with streamlined processes, enhanced data transparency, and operational support for global growth. SEI recently surpassed $1.5 trillion in alternative assets under administration in its Investment Managers business.
SEI (NASDAQ:SEIC) announced that Front Street Capital Management has selected their custody and technology solutions, transferring over $600 million in assets under management. Front Street chose SEI for its integrated infrastructure providing end-to-end advisor business solutions and dedicated service model. The Montana-based registered investment advisor specializes in purpose-driven companies with long-term compounding ability. The partnership aims to enhance Front Street's operational efficiency and client service capabilities through SEI's integrated technology platform and advisor services.
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.
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