РЕГИСТРАЦИЯ
РЕГИСТРАЦИЯ
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SEI Investments Company

$SEIC
$55.21
Капитализция: $7.2B
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О компании

На 50-м году ведения бизнеса SEI Investments Company является ведущим мировым поставщиком платформ для обработки инвестиций, управления инвестициями и инвестиционных операций. Бизнес-платформы компании включают: Аутсорсинговые платформы для обработки инвестиций для показать больше
поставщиков услуг по управлению капиталом учреждениям и частным лицам, включая банки, трастовые компании, независимых консультантов по капиталу и другие фирмы, предоставляющие финансовые услуги Платформы по управлению инвестициями для институциональных инвесторов, включая спонсоров пенсионных планов, некоммерческие организации и состоятельных частных инвесторов и Аутсорсинговые платформы для инвестиционных операций для фирм, занимающихся управлением инвестициями, банков и инвестиционных компаний, которые спонсируют и распространяют взаимные фонды, хедж-фонды и альтернативные инвестиции. Эмитент начал заниматься бизнесом в 1968 году, предоставляя компьютерные учебные модели для кредитных специалистов банков. В 1972 году она разработала систему учета инвестиций банковских трастовых отделений и стала ведущим поставщиком аутсорсинговых услуг по обработке инвестиций для банков и трастовых учреждений в США. Позднее компания расширила аутсорсинговые услуги и начала предлагать банковским клиентам группу взаимных фондов, а также аутсорсинговые услуги по инвестиционным операциям. В 1981 году SEI Investments стала публичной компанией.
SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients. It provides its services to private banks, independent financial advisers, institutional investors, investment managers, investment advisors, wealth management organizations, corporations, retirement scheme sponsors, not-for-profit organizations, hedge fund managers, registered investment advisers, independent broker-dealers, financial planners, life insurance agents, defined-benefit schemes, defined-contribution schemes, endowments, foundations, and board-designated fund, through its subsidiaries. Through its subsidiaries, the firm manages separate client-focused portfolios. It also launches and manages equity, fixed income, and balanced mutual funds, through its subsidiaries. Through its subsidiaries, the firm invests in public equity and fixed income markets. It employs fundamental and quantitative analysis with a focus on top-down and bottom-up analysis to make its investments, through its subsidiaries. SEI Investments Company was founded in 1968 and is based in Oaks, Pennsylvania.
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SEI Reports First-Quarter 2022 Financial Results

SEI сообщает о финансовых результатах за первый квартал 2022 года

20 апр. 2022 г.

OAKS, Pa., April 20, 2022 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the first-quarter 2022. Diluted earnings per share were $1.36 in first-quarter 2022 compared to $0.89 in first-quarter 2021. Diluted earnings per share reflect a one-time revenue event of $88.0 million, or $0.47 per share net of associated costs. 

Consolidated Overview





(In thousands, except earnings per share)

For the Three Months Ended
March 31,



2022

2021

%







Revenues

$581,443

$455,686

28%

Net income


190,308

129,470

47%

Diluted earnings per share

$1.36

$0.89

53%

"Our first-quarter financial profits were challenged by negative capital markets, but we achieved solid sales results and successfully implemented new business. We continue investing in our future through new technology and business initiatives to deliver best-in-class platforms and service to our markets and create new growth opportunities," said SEI Chairman and CEO Alfred P. West, Jr.

"SEI is uniquely positioned in the financial services industry for sustainable growth. I'm thrilled that Ryan Hicke will become SEI's next CEO, and I'm excited to see him lead the company into the future. His diverse, global experience at SEI informs his commitment to our company's strengths across our three pillars of expertise: investments, operations, and technology. With this change in leadership, I'm confident SEI has great days ahead.

"The strength of our leadership and talented workforce globally is key to driving SEI's enduring success and helping our clients manage change with confidence. Looking toward the future, we will make sound decisions to improve our results and continue to capitalize on market opportunities to deliver long-term value to our shareholders and build brave futuresSM for our employees, clients, and communities."

Summary of First-Quarter Results by Business Segment

(In thousands)

For the Three Months
Ended March 31,



2022

2021

%

Private Banks:





     Revenues

$213,548

$117,608

82%

     Expenses

121,955

110,724

10%

     Operating Profit

91,593

6,884

NM

     Operating Margin

43%

6%








Investment Advisors:





     Revenues

119,230

113,294

5%

     Expenses

64,520

55,027

17%

     Operating Profit

54,710

58,267

(6)%

     Operating Margin

46%

51%








Institutional Investors:





     Revenues

86,839

84,499

3%

     Expenses

45,358

39,158

16%

     Operating Profit

41,481

45,341

(9)%

     Operating Margin

48%

54%








Investment Managers:





     Revenues

156,901

136,419

15%

     Expenses

98,837

83,020

19%

     Operating Profit

58,064

53,399

9%

     Operating Margin

37%

39%








Investments in New Businesses:





     Revenues

4,925

3,866

27%

     Expenses

11,950

13,404

(11)%

     Operating Loss

(7,025)

(9,538)

NM







Totals:





     Revenues

$581,443

$455,686

28%

     Expenses

342,620

301,333

14%

     Corporate Overhead Expenses

24,024

21,516

12%

     Income from Operations

$214,799

$132,837

62%

First-Quarter Business Highlights:

  • Revenues from Asset management, administration, and distribution fees increased from higher assets under management and administration due to market appreciation during 2021 and positive cash flows from new and existing clients. The decline in market conditions during the first quarter 2022 negatively impacted our revenues from assets under management and administration and partially offset our revenue growth.
  • A significant, uninstalled investment processing client terminated an agreement for convenience. As a result, we recorded one-time fees of $88.0 million during first-quarter 2022. This early termination fee is included in Information processing and software servicing fees of the Private Banks segment and reflects a diluted earnings per share impact of $0.47 net of associated costs.
  • Our average assets under administration increased $71.8 billion, or 9%, to $893.4 billion in the first-quarter 2022, as compared to $821.6 billion during the first-quarter 2021 (see attached Average Asset Balances schedules for further details).
  • Our average assets under management, excluding LSV, increased $13.2 billion, or 5%, to $293.6 billion in the first-quarter 2022, as compared to $280.4 billion during the first-quarter 2021 (see attached Average Asset Balances schedules for further details).
  • Net sales events, excluding the cancelled contract item, in the Private Banks and Investment Managers segments during first-quarter 2022 were $26.6 million and are expected to generate net annualized recurring revenues of approximately $24.7 million when contract values are completely realized.
  • Net sales events in asset management-related businesses of the Investment Advisors and Institutional Investors segments and the Asset Management Distribution (AMD) business in the Private Banks segment during first-quarter 2022 were $2.1 million.
  • Revenues from our acquisition of SEI Novus were $3.1 million during the first-quarter 2022. SEI Novus was acquired during the fourth-quarter 2021 and is reported in the Institutional Investors segment. The Institutional Investors segment also includes personnel, amortization, and other costs related to SEI Novus.
  • The increase in operational expenses was primarily due to increased direct costs related to increased revenues, as well as increased personnel costs due to business growth and competitive labor markets.
  • Earnings from LSV decreased to $32.5 million in the first-quarter 2022 as compared to $33.4 million in the first-quarter 2021 due to negative cash flows from existing clients and client losses, which offset the positive impact from market appreciation during 2021.
  • We capitalized $6.6 million of software development costs in first-quarter 2022 for continued enhancements to the SEI Wealth PlatformSM (SWP). Amortization expense related to SWP was $13.6 million in first-quarter 2022.
  • Our effective tax rates were 23.1% in first-quarter 2022 and 22.6% in first-quarter 2021. The increase in the effective tax rate was primarily due to decreased tax benefits associated with a lower volume of stock option exercises.
  • We repurchased 1.7 million shares of our common stock for $100.1 million during the first-quarter 2022 at an average price of $58.43 per share.
  • Cash flow from operations was $260.4 million, or $1.86 per share, and free cash flow was $244.6 million during the first-quarter 2022.

Earnings Conference CallA conference call to review earnings is scheduled for 4:30 p.m. Eastern time on April 20, 2022. Investors may listen to the call at seic.com/ir-events. Investors may also listen to a replay by telephone at (USA) 866-207-1041; (International) 402-970-0847; Access Code: 8875578.

SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change, and help protect assets—for growth today and in the future. As of March 31, 2022, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.

This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:

  • revenue that we believe will be generated by sales events that occurred during the quarter and the timing of the realization of such revenue, if any,
  • whether our investments will create growth opportunities,
  • whether we are positioned for sustainable growth, and
  • the degree to which we will make good decisions or capitalize on market opportunities that will deliver long-term shareholder value.

We anticipate that we may deliver forward-looking statements during today's earnings call that include our current expectations as to the matters in this release and set forth above as well as:

  • the timing and success of client migrations, implementations and conversions,
  • our ability to expand our relationships and revenue opportunities with new and existing clients,
  • the margins that out businesses may generate,
  • the degree to which one-time and transaction-based revenues during the quarter will be repeated,
  • the competition for and cost of talent and the effect of these factors on our business,
  • the headwinds we will face and our strategies for how we may respond to these headwinds,
  • how we will manage our expenses,
  • the degree to which our reported margins will decline, increase or normalize,
  • the strategic initiatives and business segments that we will pursue and those in which we will invest,
  • the success, if any, of the sales and strategic initiatives we pursue,
  • the value of our backlog and the strength of our pipelines,
  • our growth prospects,
  • the timing of and our ability to integrate any acquisition targets that we may pursue, if any,
  • the potential benefits we may derive from any of our acquisitions,
  • the organic and inorganic opportunities that will drive our growth,
  • the investments we may make in our technologies and personnel, and
  • the success and benefits of our strategic investments.

You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2021, filed with the Securities and Exchange Commission.

SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)



For the Three Months
Ended March 31,


2022

2021





Asset management, admin. and distribution fees

$394,097

$367,646

Information processing and software servicing fees

187,346

88,040





Total revenues

581,443

455,686





Subadvisory, distribution and other asset mgmt. costs

53,128

50,164

Software royalties and other information processing costs          

7,547

5,742

Compensation, benefits and other personnel

160,484

137,221

Stock-based compensation

10,566

9,752

Consulting, outsourcing and professional fees

62,491

54,340

Data processing and computer related

29,816

25,721

Facilities, supplies and other costs

17,627

17,248

Amortization

16,887

14,352

Depreciation

8,098

8,309





Total expenses

366,644

322,849





Income from operations

214,799

132,837





Net (loss) gain on investments

(489)

332

Interest and dividend income

848

945

Interest expense

(250)

(123)

Equity in earnings of unconsolidated affiliate

32,459

33,350





Income before income taxes

247,367

167,341





Income taxes

57,059

37,871





Net income

$190,308

$129,470





Basic earnings per common share

$1.38

$0.90





Shares used to calculate basic earnings per share

137,935

143,201





Diluted earnings per common share

$1.36

$0.89





Shares used to calculate diluted earnings per share

139,712

145,306

SEI INVESTMENTS COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)



March 31,

December 31,


2022

2021

Assets



  Current Assets:



     Cash and cash equivalents

$907,831

$831,407

     Restricted cash

351

351

     Receivables from investment products

57,584

59,036

     Receivables, net of allowance for doubtful accounts of $1,388 and $1,602

437,844

441,609

     Securities owned

31,258

28,267

     Other current assets

46,115

43,559

          Total Current Assets

1,480,983

1,404,229





     Property and Equipment, net of accumulated depreciation of $417,041 and $409,248

180,458

178,869

     Operating Lease Right-of-Use Assets

31,024

33,614

     Capitalized Software, net of accumulated amortization of $558,861 and $545,307

236,481

243,446

     Available for Sale and Equity Securities

134,717

129,541

     Investments in Affiliated Funds, at fair value

7,270

6,916

     Investment in Unconsolidated Affiliate

52,778

107,918

     Goodwill

117,434

117,232

     Intangible Assets, net of accumulated amortization of $20,969 and $17,716

65,339

68,782

     Deferred Contract Costs

35,847

36,236

     Deferred Income Taxes

2,706

2,983

     Other Assets, net

27,569

24,936

          Total Assets

$2,372,606

$2,354,702





Liabilities and Equity



  Current Liabilities:



     Accounts payable

$8,037

$10,312

     Accrued liabilities

250,468

324,382

     Current portion of long-term operating lease liabilities

11,219

11,328

     Deferred revenue

15,422

9,721

          Total Current Liabilities

285,146

355,743





     Borrowings Under Revolving Credit Facility

30,000

40,000

     Long-term Income Taxes Payable

803

803

     Deferred Income Taxes

36,561

48,876

     Long-term Operating Lease Liabilities

24,997

27,639

     Other Long-term Liabilities

22,016

20,878

          Total Liabilities

399,523

493,939





Shareholders' Equity:



     Common stock, $0.01 par value, 750,000 shares authorized; 137,219 and 138,449
     shares issued and outstanding

1,372

1,384

     Capital in excess of par value

1,266,320

1,246,608

     Retained earnings

733,572

632,614

     Accumulated other comprehensive loss, net

(28,181)

(19,843)

          Total Shareholders' Equity

1,973,083

1,860,763

          Total Liabilities and Shareholders' Equity

$2,372,606

$2,354,702

ENDING ASSET BALANCES
(In millions)  (Unaudited)



Mar. 31,

Jun. 30,

Sept. 30,

Dec. 31,

Mar. 31,


2021

2021

2021

2021

2022

Private Banks:









Equity and fixed-income programs

$25,098

$26,264

$25,618

$26,281

$25,335

Collective trust fund programs

7

7

6

6

7

Liquidity funds

3,793

3,654

3,988

4,724

4,225

Total assets under management

$28,898

$29,925

$29,612

$31,011

$29,567

Client assets under administration

4,379

4,412

4,675

4,481

4,449

Total assets

$33,277

$34,337

$34,287

$35,492

$34,016











Investment Advisors:









Equity and fixed-income programs

$73,819

$78,053

$78,560

$81,686

$77,614

Liquidity funds

3,584

3,550

3,477

4,317

4,610

Total Platform assets under management

$77,403

$81,603

$82,037

$86,003

$82,224

Platform-only assets (E)

12,538

13,566

13,728

14,564

14,151

Total Platform assets (E)

$89,941

$95,169

$95,765

$100,567

$96,375











Institutional Investors:









Equity and fixed-income programs

$92,040

$93,010

$89,441

$91,719

$87,358

Collective trust fund programs

95

5

5

5

6

Liquidity funds

2,909

2,516

2,599

2,118

2,150

Total assets under management

$95,044

$95,531

$92,045

$93,842

$89,514

Client assets under advisement

4,333

4,566

4,698

4,857

4,778

Total assets

$99,377

$100,097

$96,743

$98,699

$94,292











Investment Managers:









Collective trust fund programs

$78,304

$87,012

$87,488

$92,549

$85,411

Liquidity funds

449

473

568

423

284

Total assets under management

$78,753

$87,485

$88,056

$92,972

$85,695

Client assets under administration (A)

831,819

875,942

861,605

907,377

895,181

Total assets

$910,572

$963,427

$949,661

$1,000,349

$980,876











Investments in New Businesses:









Equity and fixed-income programs

$1,777

$1,924

$1,964

$2,096

$2,057

Liquidity funds

289

191

202

240

305

Total assets under management

$2,066

$2,115

$2,166

$2,336

$2,362

Client assets under administration

1,355

1,422

1,378

1,410

1,401

Total assets

$3,421

$3,537

$3,544

$3,746

$3,763











LSV Asset Management:









Equity and fixed-income programs (B)

$101,565

$102,404

$97,604

$98,984

$95,962











Total:









Equity and fixed-income programs (C)

$294,299

$301,655

$293,187

$300,766

$288,326

Collective trust fund programs

78,406

87,024

87,499

92,560

85,424

Liquidity funds

11,024

10,384

10,834

11,822

11,574

Total assets under management

$383,729

$399,063

$391,520

$405,148

$385,324

Client assets under advisement

5,688

5,988

6,076

6,267

6,179

Client assets under administration (D)

836,198

880,354

866,280

911,858

899,630

Platform-only assets

12,538

13,566

13,728

14,564

14,151

Total assets

$1,238,153

$1,298,971

$1,277,604

$1,337,837

$1,305,284

(A)

Client assets under administration in the Investment Managers segment include $12.9 billion of assets that are at fee levels below our
normal full-service assets (as of March 31, 2022).

(B)

Equity and fixed-income programs include $2.3 billion of assets managed by LSV in which fees are based on performance only (as of
March 31, 2022).

(C)

Equity and fixed-income programs include $7.4 billion of assets invested in various asset allocation funds at March 31, 2022.

(D) 

In addition to the numbers presented, SEI also administers an additional $13.3 billion in Funds of Funds assets (as of
March 31, 2022) on which SEI does not earn an administration fee.

(E)

Platform assets under management and Platform-only assets combined are total Platform assets in the Investment Advisors segment.

AVERAGE ASSET BALANCES
(In millions) (Unaudited)



1st Qtr.

2nd Qtr.

3rd Qtr.

4th Qtr.

1st Qtr.


2021

2021

2021

2021

2022

Private Banks:









Equity and fixed-income programs

$25,139

$26,056

$26,232

$25,999

$25,637

Collective trust fund programs

6

7

6

6

6

Liquidity funds

3,876

3,833

3,916

4,452

4,403

Total assets under management

$29,021

$29,896

$30,154

$30,457

$30,046

Client assets under administration

4,317

4,405

4,476

4,607

4,500

Total assets

$33,338

$34,301

$34,630

$35,064

$34,546











Investment Advisors:









Equity and fixed-income programs

$73,240

$76,840

$79,602

$80,703

$77,576

Liquidity funds

3,619

3,370

3,403

3,644

5,151

Total Platform assets under management

$76,859

$80,210

$83,005

$84,347

$82,727

Platform-only assets (E)

12,206

13,292

13,863

14,341

13,978

Total Platform assets (E)

$89,065

$93,502

$96,868

$98,688

$96,705











Institutional Investors:









Equity and fixed-income programs

$91,349

$93,458

$91,965

$90,557

$89,250

Collective trust fund programs

96

68

5

5

5

Liquidity funds

2,621

2,681

2,742

2,391

2,223

Total assets under management

$94,066

$96,207

$94,712

$92,953

$91,478

Client assets under advisement

4,146

4,516

4,658

4,812

4,889

Total assets

$98,212

$100,723

$99,370

$97,765

$96,367











Investment Managers:









Collective trust fund programs

$78,035

$84,553

$89,441

$90,457

$86,633

Liquidity funds

490

469

532

491

432

Total assets under management

$78,525

$85,022

$89,973

$90,948

$87,065

Client assets under administration (A)

817,330

853,810

851,183

879,718

888,854

Total assets

$895,855

$938,832

$941,156

$970,666

$975,919











Investments in New Businesses:









Equity and fixed-income programs

$1,743

$1,870

$1,958

$2,053

$2,025

Liquidity funds

169

236

205

197

286

Total assets under management

$1,912

$2,106

$2,163

$2,250

$2,311

Client assets under advisement

1,327

1,406

1,423

1,423

1,397

Total assets

$3,239

$3,512

$3,586

$3,673

$3,708











LSV Asset Management:









Equity and fixed-income programs (B)

$97,476

$103,583

$99,924

$97,381

$96,449











Total:









Equity and fixed-income programs (C)

$288,947

$301,807

$299,681

$296,693

$290,937

Collective trust fund programs

78,137

84,628

89,452

90,468

86,644

Liquidity funds

10,775

10,589

10,798

11,175

12,495

Total assets under management

$377,859

$397,024

$399,931

$398,336

$390,076

Client assets under advisement

5,473

5,922

6,081

6,235

6,286

Client assets under administration (D)

821,647

858,215

855,659

884,325

893,354

Platform-only assets

12,206

13,292

13,863

14,341

13,978

Total assets

$1,217,185

$1,274,453

$1,275,534

$1,303,237

$1,303,694

(A)

Average client assets under administration in the Investment Managers segment during first-quarter 2022 include $12.7 billion that are
at fee levels below our normal full-service assets.

(B)

Equity and fixed-income programs include $2.4 billion of average assets managed by LSV in which fees are based on performance only
during first-quarter 2022.

(C)

Equity and fixed-income programs include $7.6 billion of average assets invested in various asset allocation funds during first-quarter
2022.

(D)

In addition to the numbers presented, SEI also administers an additional $13.8 billion of average assets in Funds of Funds assets during
first-quarter 2022 on which SEI does not earn an administration fee.

(E) 

Platform assets under management and Platform-only assets combined are total Platform assets in the Investment Advisors segment.

Investor Contact:          

Media Contact:

Lindsey Opsahl

Leslie Wojcik

SEI

SEI

+1 610-676-4052

+1 610-676-4191

[email protected]

[email protected]

SOURCE SEI Investments Company

ОУКС, Пенсильвания, 20 апреля 2022 г. /PRNewswire/ -- Компания SEI Investments (NASDAQ:SEIC) сегодня объявила финансовые результаты за первый квартал 2022 года. Разводненная прибыль на акцию составила 1,36 доллара в первом квартале 2022 года по сравнению с 0,89 доллара в первом квартале 2021 года. Разводненная прибыль на акцию отражает единовременную выручку в размере 88,0 млн долларов, или 0,47 доллара на акцию за вычетом сопутствующих расходов. 

Consolidated Overview





(In thousands, except earnings per share)

For the Three Months Ended
March 31,



2022

2021

%







Revenues

$581,443

$455,686

28%

Net income


190,308

129,470

47%

Diluted earnings per share

$1.36

$0.89

53%

"Наша финансовая прибыль за первый квартал была оспорена негативными рынками капитала, но мы добились хороших результатов в продажах и успешно внедрили новый бизнес. Мы продолжаем инвестировать в наше будущее с помощью новых технологий и бизнес-инициатив, чтобы предоставлять нашим рынкам лучшие в своем классе платформы и услуги и создавать новые возможности для роста", - сказал председатель и главный исполнительный директор SEI Альфред П. Уэст-младший.

"SEI занимает уникальное положение в индустрии финансовых услуг для устойчивого роста. Я очень рад, что Райан Хике станет следующим генеральным директором SEI, и я рад видеть, как он поведет компанию в будущее. Его разнообразный глобальный опыт работы в SEI свидетельствует о его приверженности сильным сторонам нашей компании по трем основным направлениям: инвестиции, операции и технологии. С этой сменой руководства я уверен, что у SEI впереди великие дни.

"Сила нашего руководства и талантливых сотрудников по всему миру является ключом к устойчивому успеху SEI и помогает нашим клиентам уверенно справляться с изменениями. Глядя в будущее, мы будем принимать обоснованные решения для улучшения наших результатов и продолжать использовать рыночные возможности для обеспечения долгосрочной ценности для наших акционеров и построения смелого будущего для наших сотрудников, клиентов и сообществ".

Summary of First-Quarter Results by Business Segment

(In thousands)

For the Three Months
Ended March 31,



2022

2021

%

Private Banks:





     Revenues

$213,548

$117,608

82%

     Expenses

121,955

110,724

10%

     Operating Profit

91,593

6,884

NM

     Operating Margin

43%

6%








Investment Advisors:





     Revenues

119,230

113,294

5%

     Expenses

64,520

55,027

17%

     Operating Profit

54,710

58,267

(6)%

     Operating Margin

46%

51%








Institutional Investors:





     Revenues

86,839

84,499

3%

     Expenses

45,358

39,158

16%

     Operating Profit

41,481

45,341

(9)%

     Operating Margin

48%

54%








Investment Managers:





     Revenues

156,901

136,419

15%

     Expenses

98,837

83,020

19%

     Operating Profit

58,064

53,399

9%

     Operating Margin

37%

39%








Investments in New Businesses:





     Revenues

4,925

3,866

27%

     Expenses

11,950

13,404

(11)%

     Operating Loss

(7,025)

(9,538)

NM







Totals:





     Revenues

$581,443

$455,686

28%

     Expenses

342,620

301,333

14%

     Corporate Overhead Expenses

24,024

21,516

12%

     Income from Operations

$214,799

$132,837

62%

Основные показатели деятельности за Первый квартал:

  • Доходы от сборов за управление активами, администрирование и дистрибуцию увеличились за счет увеличения активов, находящихся под управлением и управлением, в связи с укреплением рынка в течение 2021 года и положительными денежными потоками от новых и существующих клиентов. Ухудшение рыночных условий в первом квартале 2022 года негативно сказалось на наших доходах от активов, находящихся под управлением и управлением, и частично компенсировало рост нашей выручки.
  • Значительный, удаленный клиент по обработке инвестиций расторг соглашение для удобства. В результате в первом квартале 2022 года мы зафиксировали единовременные сборы в размере 88,0 миллиона долларов. Эта плата за досрочное расторжение договора включена в плату за обработку информации и обслуживание программного обеспечения в сегменте частных банков и отражает влияние разводненной прибыли на акцию в размере 0,47 долл. США за вычетом сопутствующих расходов.
  • Наши средние активы под управлением увеличились на 71,8 миллиарда долларов, или на 9%, до 893,4 миллиарда долларов в первом квартале 2022 года по сравнению с 821,6 миллиарда долларов в первом квартале 2021 года (более подробную информацию см. в прилагаемых таблицах средних остатков активов).
  • Наши средние активы под управлением, без учета LSV, увеличились на 13,2 миллиарда долларов, или на 5%, до 293,6 миллиарда долларов в первом квартале 2022 года по сравнению с 280,4 миллиарда долларов в первом квартале 2021 года (более подробную информацию см. в прилагаемых таблицах средних остатков активов).
  • Чистые продажи, за исключением аннулированной статьи контракта, в сегментах Частных банков и Инвестиционных менеджеров в первом квартале 2022 года составили 26,6 млн долларов США и, как ожидается, принесут чистую годовую повторяющуюся выручку в размере примерно 24,7 млн долларов США, когда стоимость контракта будет полностью реализована.
  • Чистые продажи в сегментах Инвестиционных консультантов и Институциональных инвесторов, связанных с управлением активами, а также в сегменте Распределения активов (AMD) в сегменте Частных банков в первом квартале 2022 года составили 2,1 миллиона долларов.
  • Выручка от нашего приобретения SEI Novus в первом квартале 2022 года составила 3,1 миллиона долларов. SEI Novus был приобретен в четвертом квартале 2021 года и представлен в сегменте институциональных инвесторов. Сегмент институциональных инвесторов также включает в себя расходы на персонал, амортизацию и другие расходы, связанные с SEI Novus.
  • Увеличение операционных расходов было в первую очередь обусловлено увеличением прямых расходов, связанных с увеличением доходов, а также увеличением расходов на персонал в связи с ростом бизнеса и конкурентными рынками труда.
  • Прибыль от LSV снизилась до 32,5 млн долларов в первом квартале 2022 года по сравнению с 33,4 млн долларов в первом квартале 2021 года из-за отрицательных денежных потоков от существующих клиентов и потерь клиентов, которые компенсировали положительное влияние укрепления рынка в течение 2021 года.
  • В первом квартале 2022 года мы капитализировали затраты на разработку программного обеспечения в размере 6,6 млн долларов США для дальнейшего совершенствования SEI Wealth Platform SM (SWP). Расходы на амортизацию, связанные с SWP, составили 13,6 миллиона долларов в первом квартале 2022 года.
  • Наши эффективные налоговые ставки составили 23,1% в первом квартале 2022 года и 22,6% в первом квартале 2021 года. Увеличение эффективной налоговой ставки произошло в первую очередь из-за уменьшения налоговых льгот, связанных с меньшим объемом реализации опционов на акции.
  • В первом квартале 2022 года мы выкупили 1,7 миллиона наших обыкновенных акций за 100,1 миллиона долларов по средней цене 58,43 доллара за акцию.
  • Денежный поток от операционной деятельности составил 260,4 млн долларов, или 1,86 доллара на акцию, а свободный денежный поток в первом квартале 2022 года составил 244,6 млн долларов.

Конференц-звонок по доходам Конференц-звонок для обзора доходов запланирован на 4:30 вечера по восточному времени 20 апреля 2022 года. Инвесторы могут прислушаться к призыву по адресу seic.com/ir-events . Инвесторы также могут прослушать повтор по телефону (США) 866-207-1041; (Международный) 402-970-0847; Код доступа: 8875578.

SEI (NASDAQ:SEIC) предоставляет технологические и инвестиционные решения, которые объединяют индустрию финансовых услуг. Обладая возможностями в области обработки инвестиций, операций и управления активами, SEI работает с корпорациями, финансовыми учреждениями и профессионалами, а также состоятельными семьями, чтобы решать проблемы, управлять изменениями и помогать защищать активы - для роста сегодня и в будущем. По состоянию на 31 марта 2022 года SEI управляет, консультирует или управляет активами на сумму около 1,3 трлн долларов. Для получения дополнительной информации посетите seic.com .

Настоящий пресс-релиз содержит прогнозные заявления по смыслу правил и положений Комиссии по ценным бумагам и биржам. В некоторых случаях вы можете определить прогнозные заявления с помощью терминологии, такой как "может", "будет", "ожидать", "верить" и "продолжать" или "появиться". Наши прогнозные заявления включают наши текущие ожидания относительно:

  • доход, который, по нашему мнению, будет получен в результате событий продаж, произошедших в течение квартала, и сроков реализации такого дохода, если таковые имеются,
  • создадут ли наши инвестиции возможности для роста,
  • готовы ли мы к устойчивому росту, и
  • степень, в которой мы будем принимать правильные решения или извлекать выгоду из рыночных возможностей, которые обеспечат долгосрочную акционерную стоимость.

Мы ожидаем, что во время сегодняшнего объявления о доходах мы можем выступить с прогнозными заявлениями, которые включают наши текущие ожидания относительно вопросов, изложенных в этом выпуске и изложенных выше, а также:

  • сроки и успешность миграции, внедрения и преобразования клиентов,
  • наша способность расширять наши отношения и возможности получения дохода с новыми и существующими клиентами,
  • прибыль, которую могут генерировать наши предприятия,
  • степень, в которой единовременные и основанные на транзакциях доходы в течение квартала будут повторяться,
  • конкуренция за таланты и их стоимость, а также влияние этих факторов на наш бизнес,
  • встречные ветры, с которыми мы столкнемся, и наши стратегии того, как мы можем реагировать на эти встречные ветры,
  • как мы будем управлять нашими расходами,
  • степень, в которой наша заявленная маржа снизится, увеличится или нормализуется,
  • стратегические инициативы и бизнес-сегменты, которые мы будем развивать, и те, в которые мы будем инвестировать,
  • успех, если таковой имеется, продаж и стратегических инициатив, которые мы реализуем,
  • ценность нашего отставания и прочность наших трубопроводов,
  • наши перспективы роста,
  • сроки и наша способность интегрировать любые цели приобретения, которые мы можем преследовать, если таковые имеются,
  • потенциальные выгоды, которые мы можем извлечь из любого из наших приобретений,
  • органические и неорганические возможности, которые будут стимулировать наш рост,
  • инвестиции, которые мы можем сделать в наши технологии и персонал, а также
  • успех и выгоды от наших стратегических инвестиций.

Вы не должны чрезмерно полагаться на наши прогнозные заявления, поскольку они основаны на текущих убеждениях и ожиданиях нашего руководства и подвержены значительным рискам и неопределенностям, многие из которых находятся вне нашего контроля или могут быть изменены. Хотя мы считаем, что предположения, на которых мы основываем наши прогнозные заявления, являются разумными, они могут быть неточными. Некоторые из рисков и важных факторов, которые могут привести к тому, что фактические результаты будут отличаться от тех, которые описаны в наших прогнозных заявлениях, можно найти в разделе "Факторы риска" нашего Годового отчета по форме 10-K за год, закончившийся 31 декабря 2021 года, поданного в Комиссию по ценным бумагам и биржам.

SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)



For the Three Months
Ended March 31,


2022

2021





Asset management, admin. and distribution fees

$394,097

$367,646

Information processing and software servicing fees

187,346

88,040





Total revenues

581,443

455,686





Subadvisory, distribution and other asset mgmt. costs

53,128

50,164

Software royalties and other information processing costs          

7,547

5,742

Compensation, benefits and other personnel

160,484

137,221

Stock-based compensation

10,566

9,752

Consulting, outsourcing and professional fees

62,491

54,340

Data processing and computer related

29,816

25,721

Facilities, supplies and other costs

17,627

17,248

Amortization

16,887

14,352

Depreciation

8,098

8,309





Total expenses

366,644

322,849





Income from operations

214,799

132,837





Net (loss) gain on investments

(489)

332

Interest and dividend income

848

945

Interest expense

(250)

(123)

Equity in earnings of unconsolidated affiliate

32,459

33,350





Income before income taxes

247,367

167,341





Income taxes

57,059

37,871





Net income

$190,308

$129,470





Basic earnings per common share

$1.38

$0.90





Shares used to calculate basic earnings per share

137,935

143,201





Diluted earnings per common share

$1.36

$0.89





Shares used to calculate diluted earnings per share

139,712

145,306

SEI Investments COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)



March 31,

December 31,


2022

2021

Assets



  Current Assets:



     Cash and cash equivalents

$907,831

$831,407

     Restricted cash

351

351

     Receivables from investment products

57,584

59,036

     Receivables, net of allowance for doubtful accounts of $1,388 and $1,602

437,844

441,609

     Securities owned

31,258

28,267

     Other current assets

46,115

43,559

          Total Current Assets

1,480,983

1,404,229





     Property and Equipment, net of accumulated depreciation of $417,041 and $409,248

180,458

178,869

     Operating Lease Right-of-Use Assets

31,024

33,614

     Capitalized Software, net of accumulated amortization of $558,861 and $545,307

236,481

243,446

     Available for Sale and Equity Securities

134,717

129,541

     Investments in Affiliated Funds, at fair value

7,270

6,916

     Investment in Unconsolidated Affiliate

52,778

107,918

     Goodwill

117,434

117,232

     Intangible Assets, net of accumulated amortization of $20,969 and $17,716

65,339

68,782

     Deferred Contract Costs

35,847

36,236

     Deferred Income Taxes

2,706

2,983

     Other Assets, net

27,569

24,936

          Total Assets

$2,372,606

$2,354,702





Liabilities and Equity



  Current Liabilities:



     Accounts payable

$8,037

$10,312

     Accrued liabilities

250,468

324,382

     Current portion of long-term operating lease liabilities

11,219

11,328

     Deferred revenue

15,422

9,721

          Total Current Liabilities

285,146

355,743





     Borrowings Under Revolving Credit Facility

30,000

40,000

     Long-term Income Taxes Payable

803

803

     Deferred Income Taxes

36,561

48,876

     Long-term Operating Lease Liabilities

24,997

27,639

     Other Long-term Liabilities

22,016

20,878

          Total Liabilities

399,523

493,939





Shareholders' Equity:



     Common stock, $0.01 par value, 750,000 shares authorized; 137,219 and 138,449
     shares issued and outstanding

1,372

1,384

     Capital in excess of par value

1,266,320

1,246,608

     Retained earnings

733,572

632,614

     Accumulated other comprehensive loss, net

(28,181)

(19,843)

          Total Shareholders' Equity

1,973,083

1,860,763

          Total Liabilities and Shareholders' Equity

$2,372,606

$2,354,702

ENDING ASSET BALANCES
(In millions)  (Unaudited)



Mar. 31,

Jun. 30,

Sept. 30,

Dec. 31,

Mar. 31,


2021

2021

2021

2021

2022

Private Banks:









Equity and fixed-income programs

$25,098

$26,264

$25,618

$26,281

$25,335

Collective trust fund programs

7

7

6

6

7

Liquidity funds

3,793

3,654

3,988

4,724

4,225

Total assets under management

$28,898

$29,925

$29,612

$31,011

$29,567

Client assets under administration

4,379

4,412

4,675

4,481

4,449

Total assets

$33,277

$34,337

$34,287

$35,492

$34,016











Investment Advisors:









Equity and fixed-income programs

$73,819

$78,053

$78,560

$81,686

$77,614

Liquidity funds

3,584

3,550

3,477

4,317

4,610

Total Platform assets under management

$77,403

$81,603

$82,037

$86,003

$82,224

Platform-only assets (E)

12,538

13,566

13,728

14,564

14,151

Total Platform assets (E)

$89,941

$95,169

$95,765

$100,567

$96,375











Institutional Investors:









Equity and fixed-income programs

$92,040

$93,010

$89,441

$91,719

$87,358

Collective trust fund programs

95

5

5

5

6

Liquidity funds

2,909

2,516

2,599

2,118

2,150

Total assets under management

$95,044

$95,531

$92,045

$93,842

$89,514

Client assets under advisement

4,333

4,566

4,698

4,857

4,778

Total assets

$99,377

$100,097

$96,743

$98,699

$94,292











Investment Managers:









Collective trust fund programs

$78,304

$87,012

$87,488

$92,549

$85,411

Liquidity funds

449

473

568

423

284

Total assets under management

$78,753

$87,485

$88,056

$92,972

$85,695

Client assets under administration (A)

831,819

875,942

861,605

907,377

895,181

Total assets

$910,572

$963,427

$949,661

$1,000,349

$980,876











Investments in New Businesses:









Equity and fixed-income programs

$1,777

$1,924

$1,964

$2,096

$2,057

Liquidity funds

289

191

202

240

305

Total assets under management

$2,066

$2,115

$2,166

$2,336

$2,362

Client assets under administration

1,355

1,422

1,378

1,410

1,401

Total assets

$3,421

$3,537

$3,544

$3,746

$3,763











LSV Asset Management:









Equity and fixed-income programs (B)

$101,565

$102,404

$97,604

$98,984

$95,962











Total:









Equity and fixed-income programs (C)

$294,299

$301,655

$293,187

$300,766

$288,326

Collective trust fund programs

78,406

87,024

87,499

92,560

85,424

Liquidity funds

11,024

10,384

10,834

11,822

11,574

Total assets under management

$383,729

$399,063

$391,520

$405,148

$385,324

Client assets under advisement

5,688

5,988

6,076

6,267

6,179

Client assets under administration (D)

836,198

880,354

866,280

911,858

899,630

Platform-only assets

12,538

13,566

13,728

14,564

14,151

Total assets

$1,238,153

$1,298,971

$1,277,604

$1,337,837

$1,305,284

(A)

Client assets under administration in the Investment Managers segment include $12.9 billion of assets that are at fee levels below our
normal full-service assets (as of March 31, 2022).

(B)

Equity and fixed-income programs include $2.3 billion of assets managed by LSV in which fees are based on performance only (as of
March 31, 2022).

(C)

Equity and fixed-income programs include $7.4 billion of assets invested in various asset allocation funds at March 31, 2022.

(D) 

In addition to the numbers presented, SEI also administers an additional $13.3 billion in Funds of Funds assets (as of
March 31, 2022) on which SEI does not earn an administration fee.

(E)

Platform assets under management and Platform-only assets combined are total Platform assets in the Investment Advisors segment.

AVERAGE ASSET BALANCES
(In millions) (Unaudited)



1st Qtr.

2nd Qtr.

3rd Qtr.

4th Qtr.

1st Qtr.


2021

2021

2021

2021

2022

Private Banks:









Equity and fixed-income programs

$25,139

$26,056

$26,232

$25,999

$25,637

Collective trust fund programs

6

7

6

6

6

Liquidity funds

3,876

3,833

3,916

4,452

4,403

Total assets under management

$29,021

$29,896

$30,154

$30,457

$30,046

Client assets under administration

4,317

4,405

4,476

4,607

4,500

Total assets

$33,338

$34,301

$34,630

$35,064

$34,546











Investment Advisors:









Equity and fixed-income programs

$73,240

$76,840

$79,602

$80,703

$77,576

Liquidity funds

3,619

3,370

3,403

3,644

5,151

Total Platform assets under management

$76,859

$80,210

$83,005

$84,347

$82,727

Platform-only assets (E)

12,206

13,292

13,863

14,341

13,978

Total Platform assets (E)

$89,065

$93,502

$96,868

$98,688

$96,705











Institutional Investors:









Equity and fixed-income programs

$91,349

$93,458

$91,965

$90,557

$89,250

Collective trust fund programs

96

68

5

5

5

Liquidity funds

2,621

2,681

2,742

2,391

2,223

Total assets under management

$94,066

$96,207

$94,712

$92,953

$91,478

Client assets under advisement

4,146

4,516

4,658

4,812

4,889

Total assets

$98,212

$100,723

$99,370

$97,765

$96,367











Investment Managers:









Collective trust fund programs

$78,035

$84,553

$89,441

$90,457

$86,633

Liquidity funds

490

469

532

491

432

Total assets under management

$78,525

$85,022

$89,973

$90,948

$87,065

Client assets under administration (A)

817,330

853,810

851,183

879,718

888,854

Total assets

$895,855

$938,832

$941,156

$970,666

$975,919











Investments in New Businesses:









Equity and fixed-income programs

$1,743

$1,870

$1,958

$2,053

$2,025

Liquidity funds

169

236

205

197

286

Total assets under management

$1,912

$2,106

$2,163

$2,250

$2,311

Client assets under advisement

1,327

1,406

1,423

1,423

1,397

Total assets

$3,239

$3,512

$3,586

$3,673

$3,708











LSV Asset Management:









Equity and fixed-income programs (B)

$97,476

$103,583

$99,924

$97,381

$96,449











Total:









Equity and fixed-income programs (C)

$288,947

$301,807

$299,681

$296,693

$290,937

Collective trust fund programs

78,137

84,628

89,452

90,468

86,644

Liquidity funds

10,775

10,589

10,798

11,175

12,495

Total assets under management

$377,859

$397,024

$399,931

$398,336

$390,076

Client assets under advisement

5,473

5,922

6,081

6,235

6,286

Client assets under administration (D)

821,647

858,215

855,659

884,325

893,354

Platform-only assets

12,206

13,292

13,863

14,341

13,978

Total assets

$1,217,185

$1,274,453

$1,275,534

$1,303,237

$1,303,694

(A)

Average client assets under administration in the Investment Managers segment during first-quarter 2022 include $12.7 billion that are
at fee levels below our normal full-service assets.

(B)

Equity and fixed-income programs include $2.4 billion of average assets managed by LSV in which fees are based on performance only
during first-quarter 2022.

(C)

Equity and fixed-income programs include $7.6 billion of average assets invested in various asset allocation funds during first-quarter
2022.

(D)

In addition to the numbers presented, SEI also administers an additional $13.8 billion of average assets in Funds of Funds assets during
first-quarter 2022 on which SEI does not earn an administration fee.

(E) 

Platform assets under management and Platform-only assets combined are total Platform assets in the Investment Advisors segment.

Investor Contact:          

Media Contact:

Lindsey Opsahl

Leslie Wojcik

SEI

SEI

+1 610-676-4052

+1 610-676-4191

[email protected]

[email protected]

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