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SEI Investments Co SEIC

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Stock XNAS Rating as of
$66.57 +0.09 (0.14%)
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As of Delayed Price Closed
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Company Report

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SEI Earnings: Bull Market, Cash Sweep Boost Profits; Mixed Trends Across Segments Continue

Rajiv Bhatia

SEI Investments reported a decent start to 2024. Market appreciation helped boost revenue, which grew 9% in the first quarter to $512 million. Similar to trends seen in recent quarters, the investment managers segment continued to perform well while the institutional investors segment struggled. The investor advisors segment benefited from its cash sweep program, and the private banks segment is showing signs of margin improvement. Overall, there was little in SEI’s earnings release that would alter our long-term view of the firm. We will maintain our narrow moat rating and $70 fair value estimate.

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Price vs Fair Value

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SEIC is trading at a 4% discount.
Price
$67.00
Fair Value
$69.00
Uncertainty
Medium
1-Star Price
$65.60
5-Star Price
$62.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Margin expansion in SEI’s private banks segment is plausible and could significantly increase the firm’s earnings power.

Bears

About 80% of SEI’s revenue is from asset management, administration, and distribution fees, which are primarily based on the value of the assets involved. As a result, SEI is exposed to changes in equity and fixed-income markets, a factor outside its control.

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News

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Trading Information

Previous Close Price
$66.48
Day Range
$66.34–67.26
52-Week Range
$52.20–72.54
Bid/Ask
$62.00 / $66.61
Market Cap
$8.74 Bil
Volume/Avg
500,828 / 525,308

Key Statistics

Price/Earnings (Normalized)
18.42
Price/Sales
4.51
Dividend Yield (Trailing)
1.34%
Dividend Yield (Forward)
1.38%
Total Yield
3.71%

Company Profile

SEI Investments provides investment processing, management, and operations services to financial institutions, asset managers, asset owners, and financial advisors in four material segments: private banks, investment advisors, institutional investors, and investment managers. SEI also has a minority interest in LSV Asset Management, a value equity asset manager with about $99 billion in assets under management. As of December 2023, SEI (including LSV) manages, administers, or advises about $1.4 trillion in assets.
Sector
Financial Services
Industry
Asset Management
Stock Style Box
Small Core
Total Number of Employees
5,089
Website
https://www.seic.com

Competitors

Valuation

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Metric
SEIC
ENV
FIS
Price/Earnings (Normalized)
 18.4232.3114.75
Price/Book Value
 3.876.012.13
Price/Sales
 4.512.734.19
Price/Cash Flow
 16.7820.339.20
Price/Earnings
SEIC
ENV
FIS

Financial Strength

Metric
SEIC
ENV
FIS
Quick Ratio
 4.030.770.14
Current Ratio
 4.190.900.75
Interest Coverage
 950.62−9.021.80
Quick Ratio
SEIC
ENV
FIS

Profitability

Metric
SEIC
ENV
FIS
Return on Assets (Normalized)
 20.46%6.92%13.19%
Return on Equity (Normalized)
 23.94%19.94%33.35%
Return on Invested Capital (Normalized)
 22.11%8.92%18.98%
Return on Assets
SEIC
ENV
FIS
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