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 enhancements to its Archway Platform through a partnership with Canoe Intelligence. This collaboration aims to automate workflows for alternative investment data collection, improving efficiency for family offices and financial institutions. The integration will allow clients to streamline data aggregation for private equity and hedge funds. SEI Family Office Services manages $400 billion in assets on the platform, supporting ultra-high-net-worth families with advanced technological solutions.
SEI Investments Company (NASDAQ: SEIC) reported third-quarter 2020 financial results, with diluted earnings per share at $0.75, down from $0.86 a year prior, reflecting a 13% decrease. Revenues increased by 2% to $424.9 million, while net income fell 16% to $111.1 million. The Board approved a $250 million stock repurchase program, raising total authorization to approximately $292 million. Selling events in Q3 were approximately $27.9 million, expected to yield annualized recurring revenues of around $14.6 million. Average assets under administration rose 13% to $738.8 billion.
SEI Investments Company (NASDAQ: SEIC) is set to announce its third-quarter 2020 earnings on Wednesday, Oct. 21, 2020, after market close. A conference call to discuss financial results will commence at 4:30 p.m. ET. Interested parties can listen to the call via the company's website, with replays available afterward.
As of June 30, 2020, SEI manages approximately $1 trillion in assets across various investment vehicles, including $318 billion in assets under management.
SEI (NASDAQ: SEIC) announced the successful migration of U.K. wealth manager Connor Broadley to its SEI Wealth Platform, completing the process on schedule amidst remote work challenges due to COVID-19. The implementation began in December 2019, enabling Connor Broadley to utilize SEI's portfolio management solutions aimed at enhancing client experience. SEI also reported migrating over £6.1 billion of assets and 32,920 accounts for U.K. clients in the first half of 2020. This partnership is expected to support both firms' long-term growth objectives.
On October 6, 2020, SEI (NASDAQ: SEIC) announced a new 'Estimated Taxes Saved' report aimed at independent financial advisors. This automated report helps advisors assess tax savings from SEI's Tax-Managed ETF Strategy and portfolio management. It provides insights into account gains, losses, and transactions impacting tax savings, and can be generated for various timeframes. The introduction of this report aims to strengthen advisor-client relationships by facilitating informed discussions regarding tax efficiency, especially during market volatility.
SEI (NASDAQ: SEIC) announced the successful transition of Dorsey & Whitney Trust Company and Hills Bank and Trust Company to the SEI Wealth Platform (SWP), replacing its legacy platform, TRUST 3000. The transition was executed remotely on schedule, demonstrating SEI's commitment to maintaining operations during challenging times. The SWP offers integrated technology solutions for wealth management, enhancing efficiency and client services. As of Q2 2020, SEI has 53 signed global clients for SWP, with 45 already installed.
SEI (NASDAQ: SEIC) announced its participation in the Morningstar's "Management Behind the Moat" virtual conference on Sept. 29, 2020. CFO Dennis McGonigle and CIO Ryan Hicke will engage in a fireside chat at 1 p.m. ET, focusing on SEI's five business segments and growth opportunities. One-on-one and group meetings will also be conducted. Interested analysts and portfolio managers are encouraged to register through Morningstar. A replay will be accessible on SEI's site until Dec. 28, 2020.
SEI (NASDAQ:SEIC) announced an expansion of services targeting institutional investors, introducing its Enhanced CIO offering. This suite supports in-house investment management by providing custom operational assistance, risk management tools, and performance reporting. SEI serves over 470 institutional clients globally, managing $1 trillion in assets as of June 30, 2020. The Enhanced CIO aims to streamline operational processes, allowing investors to concentrate on portfolio management. This strategic move aims to enhance SEI's competitive edge in the investment management sector.
SEI Investments Company (NASDAQ:SEIC) reported its second-quarter 2020 results with diluted earnings per share of $0.68, down 17% from $0.82 in Q2 2019. Total revenues decreased by 2% to $400.6 million, while net income fell 20% to $101.1 million. The firm noted notable declines in revenues from Private Banks and Investment Advisors by 7% and 6%, respectively. However, the Investment Managers segment experienced a 9% revenue increase, helping offset some losses. The company repurchased 1.6 million shares for $89.5 million during the quarter.
SEI Investments Company (NASDAQ: SEIC) will release its second-quarter 2020 earnings on July 22, 2020, after market closure. A conference call to discuss the results is scheduled for 4:30 p.m. Eastern time. As of March 31, 2020, SEI manages $920 billion in assets, including $283 billion in assets under management and $632 billion in client assets under administration. The public may access the call via this link and find replays at designated numbers.
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