Sei Invts Co Stock Price, News & Analysis

SEI Investments Company (NASDAQ:SEIC) reported its financial results for the first-quarter 2023, with diluted earnings per share at $0.79, down from $1.36 in the same quarter of 2022. Total revenues decreased by 19% to $469.1 million from $581.4 million in 2022, impacted by a one-time revenue event of $88 million recorded in the previous year.

Net income also fell to $107 million, compared to $190 million last year. The company experienced declines across various business segments, especially the Private Banks segment, which saw revenues drop 43%. Operational expenses increased due to higher personnel costs and inflation, yet cash flow from operations reached $114.4 million.

Despite challenges, the CEO expressed optimism about sales growth and future opportunities, emphasizing a strategic focus on capital alignment for growth.

On April 18, 2023, SEI Investments Company announced an increase in its stock repurchase program by an additional $250 million, raising the total authorization to approximately $263 million. This decision reflects the Board of Directors' confidence in the company's financial health and its commitment to enhancing shareholder value. SEI manages around $1.2 trillion in assets as of December 31, 2022, providing technology and investment solutions across the financial services industry. The increased buyback is expected to positively impact earnings per share (EPS) by reducing the number of outstanding shares.

SEI (NASDAQ: SEIC) will announce its first-quarter 2023 earnings on April 20, 2023, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss these results. The public can access the call through SEI's investor relations page, with replays available shortly after. As of December 31, 2022, SEI managed approximately $1.2 trillion in assets, providing technology and investment solutions for the financial services industry. The upcoming earnings release is anticipated to provide insights into the company's financial health and market position.

SEI (NASDAQ: SEIC) announced on January 31, 2023, that Paducah Bank will expand its partnership with SEI to migrate its core applications to a Microsoft Azure cloud environment using SEI Sphere. This move aims to enhance the bank's capabilities, ensuring regulatory compliance, scalability, and meeting client demands. Kelly LeNeave of Paducah Bank emphasized the importance of partnering with a provider that understands their industry. SEI Sphere offers various services, including cloud security, business continuity planning, and cost optimization, to support the bank's growth.

SEI Investments Company (NASDAQ:SEIC) announced Q4 2022 financial results, reporting diluted earnings per share of $0.83, down 19% from $1.03 in Q4 2021. Total revenues for the quarter were $456.59 million, a 9% decline from $501.65 million a year earlier, while net income decreased by 23% to $112.22 million. For the year, revenues rose 4% to $1.99 billion. The company emphasized growth strategies amidst challenging market conditions, including reduction in asset-based fee revenues due to market depreciation. CEO Ryan Hicke noted initiatives to enhance operational efficiency and client relations.

SEI (NASDAQ: SEIC) will release its fourth-quarter earnings for 2022 on January 25, 2023, after market close. A conference call is scheduled for 4:30 p.m. Eastern Time to discuss these results, with public access available through their website. SEI provides technology and investment solutions across the financial services industry, managing approximately $1.2 trillion in assets as of September 30, 2022. The company aims to assist clients in managing change and protecting assets for future growth.

SEI (NASDAQ:SEIC) announced the appointment of Karla Webster Gill as Managing Director and Head of Asset Management Distribution for SEI Investments Canada. With over 27 years of industry experience, including 16 years at SEI, Gill aims to enhance client relationships and expand strategic partnerships in Canada. Her previous role was Director of Business Development at SEI. This appointment follows Andy Mitchell's departure for another opportunity. SEI manages approximately $1.2 trillion in assets as of September 30, 2022.

On December 5, 2022, SEI Investments Company (NASDAQ: SEIC) announced a regular semi-annual dividend of $0.43 per share. This cash dividend is payable to shareholders of record on December 19, 2022, with a payment date set for January 5, 2023. As of September 30, 2022, SEI manages approximately $1.2 trillion in assets, providing technology and investment solutions across the financial services industry.