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) reported its second-quarter 2021 financial results, showing a 37% increase in diluted earnings per share to $0.93 compared to $0.68 in Q2 2020. Revenues grew 19% to $475,651 thousand, driven by market appreciation and strong sales momentum. Net income rose 32% to $133,778 thousand. Average assets under administration increased 28% to $858.2 billion. The company repurchased 2.1 million shares for $129.2 million. An earnings call is scheduled for July 21, 2021.
SEI Investments Company (NASDAQ: SEIC) will announce its second-quarter 2021 earnings on July 21, 2021, after market close, followed by a conference call at 4:30 p.m. Eastern time. The public can access the call via the SEI investor relations website. SEI, with over 50 years in the industry, manages around $1 trillion in assets across various investment vehicles, including $384 billion in assets under management and $836 billion in client assets under administration as of March 31, 2021. For further details, visit seic.com.
SEI (NASDAQ: SEIC) has expanded its partnership with Capital Group to include U.S.-focused strategies in the SEI American Funds Strategies family. This development enhances investment flexibility for independent advisors using the SEI Wealth Platform. The new solutions cater to various risk tolerances and investment objectives, allowing advisors to select between U.S. and global exposures. With approximately $77.4 billion in assets under management as of March 31, 2021, SEI continues to support advisors with an innovative, goals-based investment approach.
SEI (NASDAQ:SEIC) announced a strategic realignment of its Independent Advisor Solutions to enhance service to financial advisors adapting to market changes. The realignment focuses on advisors' business growth goals with a revamped management team for distribution, sales, investment products, digital experience, and practice management. Recent initiatives, like the acquisition of Oranj, reflect SEI's commitment to flexibility and customization for advisors.
SEI (NASDAQ: SEIC) will participate virtually in two upcoming conferences: Piper Sandler's Global Exchange & FinTech Conference on June 10, 2021, and Morgan Stanley's U.S. Financials, Payments & CRE Conference on June 15, 2021. Key executives, including CFO Dennis McGonigle, will engage in fireside chats to discuss SEI's strategic direction and growth opportunities. Live webcasts will be accessible on SEI's Investor Relations page, with replays available for 90 days and six months post-event.
On June 2, 2021, SEI Investments Company (NASDAQ: SEIC) declared a cash dividend of $0.37 per share, payable to shareholders of record on June 14, 2021, with a payment date of June 22, 2021.
Additionally, the Board approved a $250 million increase to its stock repurchase program, raising the total authorization to approximately $316 million.
SEI continues to manage approximately $1 trillion in assets, highlighting its strong position in investment processing and management.
SEI (NASDAQ:SEIC) released a report on nonprofit spending practices, revealing that 69% of participants reported no impact from the pandemic on their spending rates. Notably, 48% of respondents had unchanged spending, while 44% of Community Foundations increased spending due to COVID-related needs. The average spending rate among private foundations was 5.59%, with 64% using a moving average methodology. The research involved 102 nonprofits with endowments from $25 million to over $5 billion, aiming to provide insights into their financial strategies during varying market conditions.
SEI Investments Company (NASDAQ:SEIC) reported a strong performance in Q1 2021, with diluted EPS increasing to $0.89 from $0.72 year-over-year. Revenues reached $455.7 million, a 10% increase from $414.8 million in Q1 2020. Net income grew 19% to $129.5 million. Key segments showed positive revenue growth: Investment Managers up 17%, Investment Advisors up 11%, and Institutional Investors up 7%. Average assets under administration rose to $821.6 billion, a 21% increase. However, operational expenses increased by 5% to $301.3 million, reflecting investments in new business opportunities.
SEI Investments Company (NASDAQ: SEIC) will disclose its first-quarter 2021 earnings on April 21, 2021, after market close. A conference call is scheduled for 4:30 p.m. Eastern time to discuss the results. SEI manages approximately $1 trillion in various assets, including $369 billion in assets under management and $787 billion in client assets under administration as of December 31, 2020. Interested parties can attend the call via their website, with replays available shortly after.
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