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) announced that Paducah Bank has chosen SEI Sphere to bolster its cybersecurity and IT operations. SEI Sphere offers cloud-based cybersecurity solutions designed to protect clients' technology and data efficiently. With a suite of services including 24/7 cybersecurity protection and managed detection, SEI Sphere aims to safeguard financial institutions from evolving cyber threats. The partnership enables Paducah Bank to enhance operational security, allowing them to pursue growth strategies with greater confidence.
SEI (NASDAQ:SEIC) has been chosen by Saskatoon Community Foundation as its outsourced chief investment officer, managing approximately $81 million CAD in assets. This partnership enhances SEI's portfolio, adding to nearly $3.8 billion USD in new OCIO assets announced in the first half of 2021. SEI aims to deliver comprehensive investment management services, focusing on strategic oversight and partnership for the foundation's investment goals. With a strong presence in Canada since 1983, SEI supports over 440 global institutional investors, managing approximately $33 billion in assets.
SEI (NASDAQ: SEIC) announced its acquisition of Finomial, a firm specializing in investor lifecycle management and offering cloud-native financial technology. This acquisition aims to enhance SEI's automation, digitization, and reporting capabilities. Finomial brings valuable tools to augment SEI's existing platforms and is expected to streamline services such as anti-money laundering and know-your-client processes. The integration will involve 43 personnel from Finomial, who contribute expertise in cloud development. Finomial's clients manage approximately $500 billion in assets, benefiting from enhanced technology and expanded service opportunities.
SEI (NASDAQ:SEIC) has announced the acquisition of Atlas, Capita's defined contribution master trust, pending regulatory approval. This acquisition enhances SEI's competitive presence in the UK market, integrating Atlas's 110,000 members and approximately £2 billion in combined assets under management as of September 30, 2021. SEI aims to leverage Capita's pension administration expertise alongside its own investment solutions to improve member outcomes. Capita will continue providing administration services to ensure service continuity for members.
SEI Investments Company (NASDAQ:SEIC) reported a strong third-quarter 2021 with diluted earnings per share at $0.97, up 29% from $0.75 in Q3 2020. Revenues rose 14% to $485,322 thousand, driven by positive market conditions and increased assets under management, totaling $855.7 billion, a 16% increase year-over-year. Net income also surged 24% to $138,045 thousand. Strategic investments in solutions and workforce were highlighted as key growth drivers. A conference call to discuss earnings is scheduled for later today.
SEI Investments Company (NASDAQ: SEIC) will announce its third-quarter 2021 earnings on October 20, 2021, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern time on the same day. The public can listen to the call through the company's investor relations webpage, with replays available shortly afterward. As of June 30, 2021, SEI manages approximately $1.3 trillion in assets across various categories, including $399 billion in assets under management.
SEI (NASDAQ: SEIC) has rebranded its IT services division to SEI Sphere, enhancing its focus on comprehensive cybersecurity solutions for financial institutions. This initiative aims to address the growing cyber threats and operational challenges in a rapidly digitalizing financial landscape. SEI Sphere offers 24/7 protection, proprietary tools, and deep sector expertise. SEI continues to manage approximately $1.3 trillion in assets, further solidifying its position as a leading global provider in the financial services sector.
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