Intrinsic value of SEI Investments - SEIC

Previous Close

$55.82

  Intrinsic Value

$33.24

stock screener

  Rating & Target

sell

-40%

  Value-price divergence*

+13%

Previous close

$55.82

 
Intrinsic value

$33.24

 
Up/down potential

-40%

 
Rating

sell

 
Value-price divergence*

+13%

Our model is not good at valuating stocks of financial companies, such as SEIC.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of SEIC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.10
  7.80
  7.52
  7.27
  7.04
  6.84
  6.65
  6.49
  6.34
  6.21
  6.08
  5.98
  5.88
  5.79
  5.71
  5.64
  5.58
  5.52
  5.47
  5.42
  5.38
  5.34
  5.31
  5.28
  5.25
  5.22
  5.20
  5.18
  5.16
  5.15
  5.13
Revenue, $m
  1,402
  1,511
  1,625
  1,743
  1,866
  1,993
  2,126
  2,264
  2,408
  2,557
  2,712
  2,875
  3,044
  3,220
  3,404
  3,596
  3,796
  4,006
  4,225
  4,454
  4,693
  4,944
  5,206
  5,481
  5,769
  6,070
  6,386
  6,716
  7,063
  7,427
  7,808
Variable operating expenses, $m
 
  1,103
  1,186
  1,272
  1,362
  1,455
  1,552
  1,653
  1,757
  1,867
  1,980
  2,098
  2,222
  2,350
  2,485
  2,625
  2,771
  2,924
  3,084
  3,251
  3,426
  3,609
  3,801
  4,001
  4,211
  4,431
  4,661
  4,903
  5,156
  5,421
  5,700
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,023
  1,103
  1,186
  1,272
  1,362
  1,455
  1,552
  1,653
  1,757
  1,867
  1,980
  2,098
  2,222
  2,350
  2,485
  2,625
  2,771
  2,924
  3,084
  3,251
  3,426
  3,609
  3,801
  4,001
  4,211
  4,431
  4,661
  4,903
  5,156
  5,421
  5,700
Operating income, $m
  378
  408
  439
  471
  504
  538
  574
  611
  650
  690
  732
  776
  822
  869
  919
  971
  1,025
  1,082
  1,141
  1,203
  1,267
  1,335
  1,406
  1,480
  1,558
  1,639
  1,724
  1,813
  1,907
  2,005
  2,108
EBITDA, $m
  449
  455
  490
  525
  562
  601
  641
  682
  725
  770
  817
  866
  917
  970
  1,026
  1,083
  1,144
  1,207
  1,273
  1,342
  1,414
  1,490
  1,569
  1,651
  1,738
  1,829
  1,924
  2,024
  2,128
  2,238
  2,352
Interest expense (income), $m
  1
  0
  1
  2
  3
  4
  5
  6
  7
  8
  10
  11
  12
  14
  15
  17
  18
  20
  22
  24
  25
  27
  30
  32
  34
  36
  39
  42
  44
  47
  50
Earnings before tax, $m
  508
  408
  438
  469
  501
  534
  569
  605
  643
  682
  723
  765
  809
  856
  904
  954
  1,007
  1,062
  1,119
  1,179
  1,242
  1,307
  1,376
  1,448
  1,524
  1,602
  1,685
  1,772
  1,863
  1,958
  2,058
Tax expense, $m
  174
  110
  118
  127
  135
  144
  154
  163
  174
  184
  195
  207
  219
  231
  244
  258
  272
  287
  302
  318
  335
  353
  372
  391
  411
  433
  455
  478
  503
  529
  556
Net income, $m
  334
  298
  320
  342
  366
  390
  415
  442
  469
  498
  528
  559
  591
  625
  660
  697
  735
  775
  817
  861
  906
  954
  1,005
  1,057
  1,112
  1,170
  1,230
  1,293
  1,360
  1,429
  1,502

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  717
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,637
  992
  1,066
  1,144
  1,224
  1,308
  1,395
  1,486
  1,580
  1,678
  1,780
  1,886
  1,997
  2,113
  2,233
  2,359
  2,491
  2,628
  2,772
  2,922
  3,080
  3,244
  3,416
  3,596
  3,785
  3,983
  4,190
  4,407
  4,635
  4,873
  5,123
Adjusted assets (=assets-cash), $m
  920
  992
  1,066
  1,144
  1,224
  1,308
  1,395
  1,486
  1,580
  1,678
  1,780
  1,886
  1,997
  2,113
  2,233
  2,359
  2,491
  2,628
  2,772
  2,922
  3,080
  3,244
  3,416
  3,596
  3,785
  3,983
  4,190
  4,407
  4,635
  4,873
  5,123
Revenue / Adjusted assets
  1.524
  1.523
  1.524
  1.524
  1.525
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
  1.524
Average production assets, $m
  439
  473
  509
  546
  584
  624
  665
  709
  754
  800
  849
  900
  953
  1,008
  1,065
  1,125
  1,188
  1,254
  1,322
  1,394
  1,469
  1,547
  1,630
  1,716
  1,806
  1,900
  1,999
  2,102
  2,211
  2,325
  2,444
Working capital, $m
  789
  77
  83
  89
  95
  102
  108
  115
  123
  130
  138
  147
  155
  164
  174
  183
  194
  204
  215
  227
  239
  252
  266
  280
  294
  310
  326
  343
  360
  379
  398
Total debt, $m
  0
  26
  53
  81
  110
  141
  172
  205
  239
  275
  312
  351
  391
  433
  477
  522
  570
  620
  672
  727
  784
  844
  906
  971
  1,040
  1,112
  1,187
  1,266
  1,348
  1,435
  1,526
Total liabilities, $m
  334
  360
  387
  415
  444
  475
  506
  539
  573
  609
  646
  685
  725
  767
  811
  856
  904
  954
  1,006
  1,061
  1,118
  1,178
  1,240
  1,305
  1,374
  1,446
  1,521
  1,600
  1,682
  1,769
  1,860
Total equity, $m
  1,303
  632
  679
  729
  780
  833
  889
  946
  1,006
  1,069
  1,134
  1,202
  1,272
  1,346
  1,423
  1,503
  1,587
  1,674
  1,766
  1,862
  1,962
  2,066
  2,176
  2,291
  2,411
  2,537
  2,669
  2,807
  2,952
  3,104
  3,263
Total liabilities and equity, $m
  1,637
  992
  1,066
  1,144
  1,224
  1,308
  1,395
  1,485
  1,579
  1,678
  1,780
  1,887
  1,997
  2,113
  2,234
  2,359
  2,491
  2,628
  2,772
  2,923
  3,080
  3,244
  3,416
  3,596
  3,785
  3,983
  4,190
  4,407
  4,634
  4,873
  5,123
Debt-to-equity ratio
  0.000
  0.040
  0.080
  0.110
  0.140
  0.170
  0.190
  0.220
  0.240
  0.260
  0.280
  0.290
  0.310
  0.320
  0.340
  0.350
  0.360
  0.370
  0.380
  0.390
  0.400
  0.410
  0.420
  0.420
  0.430
  0.440
  0.440
  0.450
  0.460
  0.460
  0.470
Adjusted equity ratio
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637
  0.637

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  334
  298
  320
  342
  366
  390
  415
  442
  469
  498
  528
  559
  591
  625
  660
  697
  735
  775
  817
  861
  906
  954
  1,005
  1,057
  1,112
  1,170
  1,230
  1,293
  1,360
  1,429
  1,502
Depreciation, amort., depletion, $m
  71
  47
  51
  55
  58
  62
  67
  71
  75
  80
  85
  90
  95
  101
  107
  113
  119
  125
  132
  139
  147
  155
  163
  172
  181
  190
  200
  210
  221
  232
  244
Funds from operations, $m
  553
  345
  370
  397
  424
  452
  482
  513
  545
  578
  613
  649
  686
  725
  766
  809
  854
  900
  949
  1,000
  1,053
  1,109
  1,168
  1,229
  1,293
  1,360
  1,430
  1,504
  1,581
  1,662
  1,747
Change in working capital, $m
  128
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  18
  19
  19
Cash from operations, $m
  425
  340
  365
  391
  418
  446
  475
  506
  537
  570
  605
  640
  678
  716
  757
  799
  843
  890
  938
  988
  1,041
  1,096
  1,154
  1,215
  1,278
  1,344
  1,414
  1,487
  1,563
  1,643
  1,727
Maintenance CAPEX, $m
  0
  -44
  -47
  -51
  -55
  -58
  -62
  -67
  -71
  -75
  -80
  -85
  -90
  -95
  -101
  -107
  -113
  -119
  -125
  -132
  -139
  -147
  -155
  -163
  -172
  -181
  -190
  -200
  -210
  -221
  -232
New CAPEX, $m
  -82
  -35
  -36
  -37
  -38
  -40
  -42
  -43
  -45
  -47
  -49
  -51
  -53
  -55
  -58
  -60
  -63
  -66
  -69
  -72
  -75
  -78
  -82
  -86
  -90
  -94
  -99
  -104
  -109
  -114
  -119
Cash from investing activities, $m
  -80
  -79
  -83
  -88
  -93
  -98
  -104
  -110
  -116
  -122
  -129
  -136
  -143
  -150
  -159
  -167
  -176
  -185
  -194
  -204
  -214
  -225
  -237
  -249
  -262
  -275
  -289
  -304
  -319
  -335
  -351
Free cash flow, $m
  345
  261
  282
  303
  325
  348
  371
  396
  422
  448
  476
  505
  535
  566
  599
  633
  668
  705
  744
  784
  827
  871
  917
  966
  1,016
  1,070
  1,125
  1,183
  1,244
  1,308
  1,375
Issuance/(repayment) of debt, $m
  0
  26
  27
  28
  29
  30
  32
  33
  34
  36
  37
  39
  40
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  69
  72
  75
  79
  83
  87
  91
Issuance/(repurchase) of shares, $m
  -235
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -235
  26
  27
  28
  29
  30
  32
  33
  34
  36
  37
  39
  40
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
  65
  69
  72
  75
  79
  83
  87
  91
Total cash flow (excl. dividends), $m
  101
  287
  309
  331
  354
  378
  403
  429
  456
  484
  513
  543
  575
  608
  642
  678
  716
  755
  796
  839
  884
  931
  980
  1,031
  1,085
  1,141
  1,200
  1,262
  1,327
  1,395
  1,466
Retained Cash Flow (-), $m
  -13
  -46
  -48
  -49
  -51
  -53
  -55
  -58
  -60
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -84
  -88
  -92
  -96
  -100
  -105
  -110
  -115
  -120
  -126
  -132
  -138
  -145
  -152
  -159
Prev. year cash balance distribution, $m
 
  717
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  958
  261
  282
  303
  325
  347
  371
  396
  421
  448
  476
  504
  534
  566
  598
  632
  668
  705
  743
  784
  826
  870
  916
  965
  1,015
  1,068
  1,124
  1,182
  1,243
  1,307
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  919
  239
  245
  249
  252
  252
  251
  247
  242
  235
  226
  215
  203
  190
  176
  161
  145
  130
  114
  100
  85
  72
  60
  49
  39
  31
  24
  18
  14
  10
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

SEI Investments Co. 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 Co. was founded in 1968 and is based in Oaks, Pennsylvania.

FINANCIAL RATIOS  of  SEI Investments (SEIC)

Valuation Ratios
P/E Ratio 26.6
Price to Sales 6.3
Price to Book 6.8
Price to Tangible Book
Price to Cash Flow 20.9
Price to Free Cash Flow 25.9
Growth Rates
Sales Growth Rate 5.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.8%
Cap. Spend. - 3 Yr. Gr. Rate 7.9%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 509
Management Effectiveness
Return On Assets 20.7%
Ret/ On Assets - 3 Yr. Avg. 21.1%
Return On Total Capital 25.8%
Ret/ On T. Cap. - 3 Yr. Avg. 26.2%
Return On Equity 25.8%
Return On Equity - 3 Yr. Avg. 26.2%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 81.3%
Gross Margin - 3 Yr. Avg. 81%
EBITDA Margin 41.4%
EBITDA Margin - 3 Yr. Avg. 42.5%
Operating Margin 27%
Oper. Margin - 3 Yr. Avg. 27.5%
Pre-Tax Margin 36.2%
Pre-Tax Margin - 3 Yr. Avg. 37.5%
Net Profit Margin 23.8%
Net Profit Margin - 3 Yr. Avg. 24.6%
Effective Tax Rate 34.3%
Eff/ Tax Rate - 3 Yr. Avg. 34.2%
Payout Ratio 25.4%

SEIC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SEIC stock intrinsic value calculation we used $1402 million for the last fiscal year's total revenue generated by SEI Investments. The default revenue input number comes from 2016 income statement of SEI Investments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SEIC stock valuation model: a) initial revenue growth rate of 7.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SEIC is calculated based on our internal credit rating of SEI Investments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of SEI Investments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SEIC stock the variable cost ratio is equal to 73%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SEIC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for SEI Investments.

Corporate tax rate of 27% is the nominal tax rate for SEI Investments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SEIC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SEIC are equal to 31.3%.

Life of production assets of 10 years is the average useful life of capital assets used in SEI Investments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SEIC is equal to 5.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1303 million for SEI Investments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 156.87 million for SEI Investments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of SEI Investments at the current share price and the inputted number of shares is $8.8 billion.

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COMPANY NEWS

▶ SEI Adds $2 Billion in New Defined Contribution Assets   [Aug-02-17 09:00AM  GlobeNewswire]
▶ SEI beats Street 2Q forecasts   [Jul-26-17 11:23PM  Associated Press]
▶ SEI buys Midwest fintech company for $80M   [Jul-14-17 04:30PM  American City Business Journals]
▶ Tilney Group Extends Relationship with SEI Wealth Platform   [Jun-13-17 09:00AM  GlobeNewswire]
▶ SEI Survey Exposes Gaps in Wealthys Investment Knowledge   [Jun-05-17 09:00AM  GlobeNewswire]
▶ SEI Board of Directors Declares Dividend   [May-24-17 04:10PM  GlobeNewswire]
▶ TIAA-CREF Trust Company, FSB Adopts SEI Wealth Platform(SM)   [May-10-17 09:00AM  GlobeNewswire]
▶ SEI tops 1Q profit forecasts   [Apr-19-17 04:40PM  Associated Press]
▶ SEI Funds Receive Global Recognition in 2017   [Apr-11-17 12:06PM  GlobeNewswire]
▶ SEI Named Gold Award Recipient by Military Friendly®   [Jan-31-17 10:00AM  GlobeNewswire]
▶ SEI Partners with Area Universities to Fuel Innovation   [Dec-12-16 01:00PM  GlobeNewswire]
▶ Is SEI Investments Company (SEIC) A Good Stock To Buy?   [Dec-02-16 08:35AM  at Insider Monkey]
▶ SEI Womens Network Hosts Girls with Goals Initiative   [Nov-21-16 10:00AM  GlobeNewswire]
▶ SEIs Advisors Inner Circle Funds® Celebrates 25 Years   [Nov-16-16 09:00AM  GlobeNewswire]
Stock chart of SEIC Financial statements of SEIC
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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