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SEI Investments Company reports developments across financial technology, operations and asset management services for the financial services industry. News about SEIC commonly covers quarterly results, client outsourcing demand, wealth-management infrastructure, fund administration, asset management activity and professional services.
Recurring company updates include new client selections for the SEI Wealth Platform, expansion of SEI Access for alternative investments, digital onboarding for collective investment trusts, private-market and retirement-channel partnerships, and enterprise automation initiatives. SEI also issues investor conference updates and earnings-call materials tied to its operating performance and service platforms.
SEI Investments Company (NASDAQ: SEIC) will announce its second-quarter 2021 earnings on July 21, 2021, after market close, followed by a conference call at 4:30 p.m. Eastern time. The public can access the call via the SEI investor relations website. SEI, with over 50 years in the industry, manages around $1 trillion in assets across various investment vehicles, including $384 billion in assets under management and $836 billion in client assets under administration as of March 31, 2021. For further details, visit seic.com.
SEI (NASDAQ: SEIC) has expanded its partnership with Capital Group to include U.S.-focused strategies in the SEI American Funds Strategies family. This development enhances investment flexibility for independent advisors using the SEI Wealth Platform. The new solutions cater to various risk tolerances and investment objectives, allowing advisors to select between U.S. and global exposures. With approximately $77.4 billion in assets under management as of March 31, 2021, SEI continues to support advisors with an innovative, goals-based investment approach.
SEI (NASDAQ:SEIC) announced a strategic realignment of its Independent Advisor Solutions to enhance service to financial advisors adapting to market changes. The realignment focuses on advisors' business growth goals with a revamped management team for distribution, sales, investment products, digital experience, and practice management. Recent initiatives, like the acquisition of Oranj, reflect SEI's commitment to flexibility and customization for advisors.
SEI (NASDAQ: SEIC) will participate virtually in two upcoming conferences: Piper Sandler's Global Exchange & FinTech Conference on June 10, 2021, and Morgan Stanley's U.S. Financials, Payments & CRE Conference on June 15, 2021. Key executives, including CFO Dennis McGonigle, will engage in fireside chats to discuss SEI's strategic direction and growth opportunities. Live webcasts will be accessible on SEI's Investor Relations page, with replays available for 90 days and six months post-event.
On June 2, 2021, SEI Investments Company (NASDAQ: SEIC) declared a cash dividend of $0.37 per share, payable to shareholders of record on June 14, 2021, with a payment date of June 22, 2021.
Additionally, the Board approved a $250 million increase to its stock repurchase program, raising the total authorization to approximately $316 million.
SEI continues to manage approximately $1 trillion in assets, highlighting its strong position in investment processing and management.
SEI (NASDAQ:SEIC) released a report on nonprofit spending practices, revealing that 69% of participants reported no impact from the pandemic on their spending rates. Notably, 48% of respondents had unchanged spending, while 44% of Community Foundations increased spending due to COVID-related needs. The average spending rate among private foundations was 5.59%, with 64% using a moving average methodology. The research involved 102 nonprofits with endowments from $25 million to over $5 billion, aiming to provide insights into their financial strategies during varying market conditions.
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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.