Sei Invts Co Stock Price, News & Analysis

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.