SEI Investments Co

SEIC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$61.00	Dfcgdfn	Flptlmrp

Decent Finish to 2021, SEI to Begin Looking for a New CEO

Rajiv Bhatia

Jan 27, 2022

SEI finished off 2021 with a decent quarter. SEI reported revenue of $501 million, beating consensus' estimate by $13 million but about half of the beat was optics in our view as SEI recorded $6.8 million in early termination fees. Overall, there was little in SEI’s fourth-quarter earnings release that would alter our long-term view of the firm and we will maintain our narrow moat rating and $71 fair value estimate.

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