Earnings Review and Free Research Report: SEI Investments’ Q3 Revenues and EPS Beat Estimates

Research Desk Line-up: Athene Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on SEI Investments Co. (NASDAQ: SEIC), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SEIC, following the Company's posting of its financial performance for the third quarter fiscal 2017 (Q3 FY17) on October 25, 2017. The Oaks, Pennsylvania-based Company's total revenues and diluted EPS rose 9% and 19% y-o-y, respectively; topping market consensus forecasts. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Asset Management industry. Pro-TD has currently selected Athene Holding Ltd. (NYSE: ATH) for due-diligence and potential coverage as the Company announced on November 06, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Athene when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SEIC; also brushing on ATH. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

In the quarter ended September 30, 2017, SEI Investments' total revenues rose to $386.02 million compared to $354.64 million in the year ago same quarter. Net revenue numbers for the reported quarter outperformed market expectations of $385.8 million. During Q3 FY17, revenue growth was primarily attributed to higher asset management, administration, and distribution fees from market appreciation and positive cash flows from new and existing clients

The investment management firm reported net income of $101.74 million, or $0.63 per diluted share, in Q3 FY17 compared to $86.70 million, or $0.53 per diluted share, in Q3 FY16. Meanwhile, Wall Street's had expected the Company to report net income of $0.57 per diluted share in Q3 FY17.

Performance Metrics

During Q3 FY17, SEI Investments' Asset management, admin, and distribution fees rose to $299.89 million from $271.93 million in Q3 FY16. The Company reported Information processing and software servicing fees of $80.92 million in Q3 FY17, up from $76.44 million in the prior year's same quarter. Furthermore, transaction–based and trade execution fees were $5.21 million in Q3 FY17, compared to $6.27 million in Q3 FY16.

SEI Investments' Subadvisory, distribution and other asset management costs increased to $45.58 million in Q3 FY17 from $42.59 million in Q3 FY16. The Company's compensation, benefits, and other personnel rose to $118.42 million in Q3 FY17 from $103.14 million in Q3 FY16. Additionally, the Company incurred total expenses of $286.78 million in Q3 FY17 compared to $257.42 million in Q3 FY16.

SEI Investments' Segment-Wise

During Q3 FY17, the Private Banks segment's revenues grew 2% to $118.50 million from $115.95 million in the previous year's same quarter. However, the segment's profit declined to $2.69 million, or 2% of the segment's revenues, in Q3 FY17 from $10.43 million, or 9% of the segment's revenues, in the year ago corresponding quarter.

The Investment Advisors segment's revenue rose 11% to $94.32 million in Q3 FY17 from $85.26 million in Q3 FY16. Moreover, the segment's operating profit for Q3 FY17 came in at $43.73 million, or 46% of the segment's revenues, versus $40.18 million, or 47% of the segment's revenues, in Q3 FY16.

The Company's Institutional Investors segment reported revenues of $80.41 million in Q3 FY17, rising 5% from $76.22 million in Q3 FY16. The segment's operating profit stood at $40.41 million, or 50% of the segment's revenues, compared to $39.28 million, or 52% of the segment's revenues, in Q3 FY17.

In Q3 FY17, the Investment Managers segment's revenues were $91.02 million, up 20% from $75.67 million in the last year quarter. The segment posted operating profit of $31.19 million, or 34% of the segment's revenues, in Q3 FY17 versus $27.08 million, or 36% of the segment's revenues, in the prior year's same period.

Revenues from Investments in New Businesses increased to $1.77 million in Q3 FY17 compared to $1.54 million in Q3 FY16. Furthermore, the Company reported operating loss of $3.29 million in Q3 FY17 versus operating loss of $3.81 million in the last year's comparable quarter.

Balance Sheet Analyzed

SEI Investments' average total assets under management were $318.18 billion at September 30, 2017, compared to $278.55 billion at close of Q3 FY16. The Company had average Client assets under administration of $507.60 billion as on September 30, 2017, compared to $455.50 billion at the close of Q3 FY16. The Company's average total assets were $830.22 billion as on September 30, 2017, up from $734.05 billion as on September 30, 2016.

Share Repurchase

During Q3 FY17, the Company repurchased 1.2 million shares of common stock for $68.2 million. Furthermore, the Company's Board of Directors approved an increase in its stock repurchase program by an additional $200.0 million, increasing the available authorization under the program to approximately $230.5 million.

Stock Performance

On Wednesday, November 15, 2017, the stock closed the trading session at $65.59, climbing 1.05% from its previous closing price of $64.91. A total volume of 600.40 thousand shares have exchanged hands, which was higher than the 3-month average volume of 493.20 thousand shares. SEI Investments' stock price skyrocketed 17.76% in the last three months, 31.71% in the past six months, and 38.46% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 32.88%. The stock is trading at a PE ratio of 28.65 and has a dividend yield of 0.85%. At Wednesday's closing price, the stock's net capitalization stands at $10.34 billion.

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