Financial Data and Key Metrics Changes - Earnings per share (EPS) for Q2 2024 was $1.05, an increase of 18% compared to $0.89 in the prior year and up 6% from $0.99 in Q1 2024 [7] - Revenue for the quarter was $519 million, up 6% from Q2 2023 and slightly higher than Q1 2024 [7] - Total expenses for the quarter were $382 million, compared to $376 million in the previous year and $386 million in Q1 2024 [7] - Net income for the quarter increased 17% year-over-year to $139 million, and was up 5.9% compared to Q1 2024 [7] Business Line Data and Key Metrics Changes - In the Investment Managers business, net sales for the quarter were $18.1 million, with $17.2 million being recurring revenue. Revenue for the quarter was $180 million, a 4% increase from Q1 2024 [8] - Private Banking revenue for the quarter was $132.4 million, up from $130.1 million in Q1 2024, with net sales of $8.8 million [16] - The backlog of sold but expected to install recurring revenue in Private Banking was $14.9 million in Q2, down from $18.5 million in Q1 [16] - In the adviser business, revenue decreased to $120.6 million from $122.7 million in Q1, primarily due to fee reductions in the separately managed account program [41] Market Data and Key Metrics Changes - Net cash flows onto the platform increased by $100 million, driven by growth in the RIA segment [41] - The institutional business experienced negative net sales events of $1.8 million, but margins increased to 46% due to onetime expense benefits [42] - The FDIC insured deposit program generated $10 million in revenue during the quarter, with approximately $900 million in assets at quarter-end [17] Company Strategy and Development Direction - The company is focusing on organic and inorganic growth priorities, with an emphasis on RIA expansion and professional services offerings [4][5] - There is a strategic shift towards providing more services and capabilities to advisers, particularly in the context of market consolidation [37] - The company is investing in AI to enhance internal efficiencies, client service improvements, and operational automation [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's performance for 2024, citing a strong foundation and solid results from core businesses [39] - The company is addressing industry headwinds while capitalizing on tailwinds to position itself for long-term success [37] - There is a focus on maximizing capital allocation and managing expenses without compromising medium to long-term growth [72] Other Important Information - The company plans to host an Investor Day on November 7, with additional details to be shared [70] - A new executive, Michael Lane, will join the team in September to lead adviser and institutional businesses [6] Q&A Session Summary Question: Can you share leading indicators and progress in private banking activity pipelines? - Management highlighted a solid pipeline and disciplined delivery of signed clients, resulting in revenue growth and margin expansion [20][21] Question: What was the onetime impact in the quarter related to Private Banking? - A onetime benefit was received from a healthcare provider, impacting margins across business units [24] Question: How is the SEI Integrated Cash Program performing amid recent changes in the market? - The program is competitive, with good feedback from advisers, and the company is monitoring rates to maintain its attractiveness [28][51] Question: What is the company's strategy regarding the competitive landscape in the RIA market? - The company is focusing on increasing its share in the RIA market, which represents a significant growth opportunity [80] Question: How does the company view the fiduciary obligations related to the insured deposit program? - The company believes it is compliant with fiduciary obligations and will adjust based on regulatory guidance [82]

SEI Investments (SEIC) reported $518.99 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 6.1%. EPS of $1.05 for the same period compares to $0.89 a year ago. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Here is how SEI performed in the just reported quarter in terms of the ...

Investor/media contact: OAKS, Pa., July 24, 2024 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the secondquarter 2024. Diluted earnings per share were $1.05 in second-quarter 2024 compared to $0.89 in second-quarter 2023. 1 FOR IMMEDIATE RELEASE | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------|-----------------------------------|---------------------------|-------|-------------------------------------|---------------------|----- ...

Consolidated Overview "Our second-quarter results reflect 6% profit growth quarter over quarter, as our focus on capital allocation, operational leverage, and revenue growth is seeing real traction and delivering results. We also have momentum across our markets, particularly with the increased adoption of our platforms in our technology and operational businesses," said CEO Ryan Hicke. OAKS, Pa., July 24, 2024 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the s ...

SEI Investments (SEIC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of busin ...

OAKS, Pa., July 17, 2024 /PRNewswire/ -- SEI® (NASDAQ: SEIC) intends to release earnings for the second quarter 2024 on Wednesday, July 24, 2024 after the market closes. The company will hold a conference call to discuss these financial results beginning at 4:30 p.m. Eastern time. About SEI® SOURCE SEI Investments Company Public Invited to Monitor Conference Call at 4:30 p.m. Eastern Time The public is invited to listen to the call at www.seic.com/ir-events. Replays will be available shortly after the call ...

Investors might want to bet on SEI Investments (SEIC) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in ...

SEI Investments (SEIC) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank. Earnings Growth Impressive Asset Utilization Ratio In addition to efficiency in generating sales, sales growth plays an important role. And SEI is well positioned from a sales growth perspective too. The company's sales are expected to grow 9.7% this year versus the industry average of 5.4%. The current-year earnings estimates for SE ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cuttingedge growth stocks. In addition to volatility, these stocks carry above-aver ...

On-Demand Access to Actionable Tools Helps Drive Business Growth GrowthLink will initially focus on five central practice management themes, including: Designed as an on-demand experience, additional resources will be added to empower advisors to implement actionable ideas into their practices. "Growth-minded advisors are constantly looking for practice management tools that can help them deliver the personalized experiences that meet clients' needs and demands. As we expand our practice management capabili ...