SEI Investments 10-Q Report Shows 9% Revenue Growth

SEI Investments Company has recently released its 10-Q report, providing a detailed look at its financial performance and operations. The company, founded in 1968 and based in Oaks, Pennsylvania, is a publicly owned asset management holding company that provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to a wide range of clients.

According to the 10-Q report, for the three months ended March 31, 2024, SEI Investments reported total revenues of $511,579, a 9% increase from $469,119 in the same period in 2023. The company's income from operations was $125,851, a 24% increase from $101,767 in the first quarter of 2023. Net income for the period was $131,400, a 23% increase from $107,015 in the first quarter of 2023. Diluted earnings per common share were reported at $0.99, a 25% increase from $0.79 in the same period last year.

The report highlighted several significant factors impacting the financial results for the three months ended March 31, 2024. These included increases in revenue from assets under management, administration, and distribution fees, as well as revenue from asset management, administration, and distribution fees. Additionally, revenue from information processing and software servicing fees saw an increase, while earnings from LSV also grew.

The report also provided a breakdown of ending asset balances, average asset balances, and business segment revenues, expenses, and operating profit (loss) for the first quarter of 2024 compared to the same period in 2023. Ending asset balances for various segments, including Private Banks, Investment Advisors, Institutional Investors, Investment Managers, Investments in New Businesses, and LSV, were detailed, showing percentage changes in total assets under management, client assets under administration, and total assets.

The 10-Q report offers a comprehensive view of SEI Investments' financial performance and the factors driving its results for the first quarter of 2024, providing investors and stakeholders with valuable insights into the company's operations and growth trajectory. The market has reacted to these announcements by moving the company's shares -0.4% to a price of $66.33. Check out the company's full 10-Q submission here.

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