U.S. Markets closed

SEI: 1Q Earnings Snapshot

OAKS, Pa. (AP) _ SEI Investments Co. (SEIC) on Wednesday reported first-quarter profit of $114 million.

On a per-share basis, the Oaks, Pennsylvania-based company said it had net income of 73 cents.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The investment management firm posted revenue of $400.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $403.2 million.

SEI shares have increased 23 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57, a drop of 18 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEIC at https://www.zacks.com/ap/SEIC