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SEI misses 4Q profit forecasts

OAKS, Pa. (AP) _ SEI Investments Co. (SEIC) on Wednesday reported fourth-quarter profit of $122.1 million.

On a per-share basis, the Oaks, Pennsylvania-based company said it had profit of 75 cents. Earnings, adjusted for pretax gains, were 58 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The investment management firm posted revenue of $408.2 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $399.9 million.

For the year, the company reported profit of $404.4 million, or $2.49 per share. Revenue was reported as $1.53 billion.

SEI shares have climbed 4.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $75.12, a climb of 55 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