Welcome to our dedicated page for Sei Invts Co news (Ticker: SEIC), a resource for investors and traders seeking the latest updates and insights on Sei Invts Co stock.
SEI Investments Company (NASDAQ: SEIC) is frequently featured in financial news for its activities as a global provider of financial technology, operations, and asset management services within the financial services industry. Company releases emphasize SEI’s work with banks, wealth managers, trust companies, and advisory firms, as well as its role in supporting digital transformation, platform implementations, and asset management initiatives.
News coverage for SEI includes executive and leadership updates, such as the appointment of a Head of Bank Asset Management Distribution and a Chief Product Officer, and governance developments disclosed in Form 8-K filings, including board leadership changes and the transition of its founder to Chairman Emeritus. These items give investors and industry participants insight into SEI’s organizational direction and oversight.
Investors following SEIC news will also see earnings and capital allocation announcements, including quarterly earnings release dates, dividend declarations, and share repurchase program authorizations, all documented through press releases and 8-K filings. In addition, SEI reports on strategic transactions and partnerships, such as its strategic investment in Stratos Wealth Holdings, the closing of the sale of its Family Office Services business to Aquiline Capital Partners, and collaborations with firms like Syverson Strege and Clermont Trust USA that adopt the SEI Wealth Platform.
Another recurring theme in SEI’s news is the evolution of its technology and wealth management platforms, including enhancements to the SEI Wealth Platform and expansions of tax management and overlay capabilities for separately managed and unified managed accounts. Readers can use this news page to monitor how SEI’s technology, operations, and asset management services are being applied across the wealth management ecosystem and how the company communicates its strategy and initiatives to the market.
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.
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.