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 the acquisition of Oranj's cloud-native technology platform, aimed at enhancing digital collaboration tools for financial advisors and their clients. The integration is expected to improve client engagement by providing a comprehensive investor-facing portal, messaging features, and streamlined portfolio management. This move reflects SEI's commitment to empowering advisors in a digital-first environment. With 7,500 advisor partners and $75.1 billion in assets managed, SEI aims to transform the client experience by leveraging Oranj's intuitive technology.
SEI (NASDAQ: SEIC) has been chosen by Progress Bank and American Riviera Bank for their IT services to enhance IT infrastructure, network operations, and cybersecurity. With over 50 years of experience, SEI offers customized IT solutions tailored to financial institutions' needs. Progress Bank, with over $1.6 billion in assets, and American Riviera Bank, with over $900 million in assets, aim to bolster their cybersecurity frameworks. SEI's expertise in compliance and regulatory requirements positions them as a valuable partner for these banks.
SEI (NASDAQ: SEIC) announced that its South African branch, SEI Investments South Africa, achieved a Level 2 Broad-Based Black Economic Empowerment (B-BBEE) Rating, scoring over 95 points. This accomplishment highlights SEI's commitment to South Africa's socio-economic development. Notably, the company completed its first Black Economic Empowerment transaction in 2018. The B-BBEE rating reflects compliance in key areas: Ownership, Management Control, Skills Development, Enterprise and Supplier Development, and Socio-Economic Development.
SEI (NASDAQ:SEIC) reported strong momentum in its Private Banking sector, securing seven new SEI Wealth Platform client agreements and implementing seven clients in the past year. Additionally, SEI achieved 26 recontract agreements with existing clients. The company successfully transitioned to remote operations during the pandemic, completing implementations on time and within budget. SEI aims to facilitate digital transformation in wealth management and enhance client collaboration amidst market challenges.
SEI (NASDAQ:SEIC) has achieved a significant milestone with its collective investment trust (CIT) business surpassing $100 billion in assets under administration (AUA) as of Dec. 31, 2020, marking a 20.5% increase from the previous year. In 2020, SEI Trust Company launched 39 funds, adding over $17.3 billion in CIT assets. The growth is attributed to SEI's operational platform and the increasing demand for customized investment solutions. A Callan survey indicates that 78% of plan sponsors now include CITs, with an 11% rise noted from 2019.
SEI (NASDAQ:SEIC) has been appointed as the outsourced chief investment officer (OCIO) for the Greater Washington Community Foundation, managing approximately $197 million of its assets. This partnership aims to enhance investment management through discretionary services, manager oversight, and support for the foundation's long-term goals. SEI will oversee asset allocations, introduce new asset classes, and implement considerations for social and environmental factors. The partnership is a testament to SEI's 50-year track record in investment management for over 460 clients globally.
SEI (NASDAQ:SEIC) will attend the Raymond James Institutional Investors Conference on March 2, 2021. CFO Dennis McGonigle and Wayne Withrow will participate in a fireside chat at 12:30 p.m. ET, discussing SEI's five business segments and growth opportunities. One-on-one meetings will also be available. A replay of the fireside chat will be accessible on SEI's Investor Relations page until March 1, 2022. As of December 31, 2020, SEI manages approximately $1 trillion in assets, highlighting its role as a global provider of investment solutions.
Fred Alger Management has expanded its Collective Investment Trust (CIT) offerings with the launch of the Alger Focus Equity CIT, featuring around 50 large-cap stocks and over $3.2 billion in assets under management. This CIT aims to provide retirement plan clients with an attractive investment option amidst growing demand for CITs. SEI Trust Company serves as the trustee for the CITs, enhancing operational support. Additionally, these CITs are now listed on the Nasdaq Fund Network for greater accessibility and transparency. Alger has been a leader in growth equity investment for over 55 years.
SEI (NASDAQ:SEIC) has enhanced its partnership with the Association of Governing Boards of Universities and Colleges (AGB) to the Sustaining Champion level. This strategic alliance, active since 2013, aims to deliver investment and governance research to higher education boards. SEI currently manages assets worth over $32 billion for more than 460 institutional investors, including 175 nonprofit organizations. The partnership is expected to provide AGB members with valuable resources and industry expertise amidst significant changes in the higher education sector.
SEI (NASDAQ: SEIC) has launched its Systematic Core Strategies, aiming to modernize passive investing by allowing independent advisors to purchase a subset of stocks from broad market indices. This initiative enhances transparency and personalizes investment options for clients. The strategies include the U.S. Large Cap Core, U.S. All Cap Core, and International Developed Core (ADR), focusing on cost-effectiveness and active tax management. SEI's offerings target improved after-tax returns and greater control for advisors, supporting tailored investment solutions.
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