Intrinsic value of SEI Investments - SEIC

Previous Close

$60.87

  Intrinsic Value

$37.14

stock screener

  Rating & Target

sell

-39%

Previous close

$60.87

 
Intrinsic value

$37.14

 
Up/down potential

-39%

 
Rating

sell

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

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 2017), $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 9.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   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
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.90
  8.51
  8.16
  7.84
  7.56
  7.30
  7.07
  6.87
  6.68
  6.51
  6.36
  6.22
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.59
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
Revenue, $m
  1,663
  1,804
  1,952
  2,105
  2,264
  2,429
  2,601
  2,779
  2,965
  3,158
  3,359
  3,568
  3,786
  4,013
  4,249
  4,496
  4,753
  5,021
  5,302
  5,595
  5,901
  6,221
  6,556
  6,907
  7,274
  7,658
  8,060
  8,481
  8,923
  9,385
Variable operating expenses, $m
  1,214
  1,314
  1,418
  1,526
  1,638
  1,755
  1,876
  2,002
  2,134
  2,270
  2,373
  2,520
  2,674
  2,834
  3,001
  3,175
  3,357
  3,547
  3,745
  3,952
  4,168
  4,394
  4,631
  4,879
  5,138
  5,409
  5,693
  5,991
  6,302
  6,629
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
  1,214
  1,314
  1,418
  1,526
  1,638
  1,755
  1,876
  2,002
  2,134
  2,270
  2,373
  2,520
  2,674
  2,834
  3,001
  3,175
  3,357
  3,547
  3,745
  3,952
  4,168
  4,394
  4,631
  4,879
  5,138
  5,409
  5,693
  5,991
  6,302
  6,629
Operating income, $m
  449
  491
  534
  579
  626
  674
  725
  777
  832
  888
  986
  1,048
  1,112
  1,178
  1,248
  1,320
  1,396
  1,475
  1,557
  1,643
  1,733
  1,827
  1,925
  2,028
  2,136
  2,249
  2,367
  2,491
  2,620
  2,756
EBITDA, $m
  542
  588
  636
  686
  737
  791
  847
  905
  966
  1,029
  1,094
  1,162
  1,233
  1,307
  1,384
  1,465
  1,548
  1,636
  1,727
  1,823
  1,922
  2,027
  2,136
  2,250
  2,370
  2,495
  2,626
  2,763
  2,907
  3,057
Interest expense (income), $m
  1
  2
  3
  5
  7
  9
  11
  14
  16
  18
  21
  23
  26
  29
  32
  35
  38
  41
  45
  48
  52
  56
  60
  64
  69
  73
  78
  83
  89
  94
  100
Earnings before tax, $m
  448
  487
  529
  572
  616
  663
  711
  761
  813
  867
  963
  1,022
  1,083
  1,147
  1,213
  1,282
  1,355
  1,430
  1,509
  1,591
  1,677
  1,767
  1,861
  1,960
  2,063
  2,171
  2,284
  2,402
  2,526
  2,656
Tax expense, $m
  121
  132
  143
  154
  166
  179
  192
  206
  220
  234
  260
  276
  292
  310
  328
  346
  366
  386
  407
  430
  453
  477
  503
  529
  557
  586
  617
  649
  682
  717
Net income, $m
  327
  356
  386
  417
  450
  484
  519
  556
  594
  633
  703
  746
  791
  837
  886
  936
  989
  1,044
  1,101
  1,162
  1,224
  1,290
  1,359
  1,431
  1,506
  1,585
  1,667
  1,753
  1,844
  1,939

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $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 assets, $m
  1,481
  1,607
  1,738
  1,874
  2,016
  2,163
  2,316
  2,475
  2,640
  2,812
  2,991
  3,177
  3,371
  3,573
  3,784
  4,003
  4,232
  4,471
  4,721
  4,982
  5,255
  5,540
  5,838
  6,150
  6,477
  6,819
  7,177
  7,552
  7,945
  8,357
Adjusted assets (=assets-cash), $m
  1,481
  1,607
  1,738
  1,874
  2,016
  2,163
  2,316
  2,475
  2,640
  2,812
  2,991
  3,177
  3,371
  3,573
  3,784
  4,003
  4,232
  4,471
  4,721
  4,982
  5,255
  5,540
  5,838
  6,150
  6,477
  6,819
  7,177
  7,552
  7,945
  8,357
Revenue / Adjusted assets
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
  1.123
Average production assets, $m
  534
  579
  626
  676
  727
  780
  835
  892
  952
  1,014
  1,078
  1,145
  1,215
  1,288
  1,364
  1,443
  1,526
  1,612
  1,702
  1,796
  1,894
  1,997
  2,105
  2,217
  2,335
  2,458
  2,587
  2,722
  2,864
  3,013
Working capital, $m
  -5
  -5
  -6
  -6
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -27
  -28
Total debt, $m
  64
  99
  135
  173
  212
  253
  295
  339
  385
  433
  482
  534
  587
  643
  702
  763
  826
  892
  961
  1,034
  1,109
  1,188
  1,271
  1,357
  1,448
  1,543
  1,642
  1,746
  1,854
  1,969
Total liabilities, $m
  410
  445
  481
  519
  558
  599
  642
  686
  731
  779
  829
  880
  934
  990
  1,048
  1,109
  1,172
  1,239
  1,308
  1,380
  1,456
  1,535
  1,617
  1,704
  1,794
  1,889
  1,988
  2,092
  2,201
  2,315
Total equity, $m
  1,071
  1,162
  1,256
  1,355
  1,457
  1,564
  1,675
  1,789
  1,909
  2,033
  2,163
  2,297
  2,437
  2,583
  2,736
  2,894
  3,060
  3,233
  3,413
  3,602
  3,799
  4,005
  4,221
  4,447
  4,683
  4,930
  5,189
  5,460
  5,745
  6,042
Total liabilities and equity, $m
  1,481
  1,607
  1,737
  1,874
  2,015
  2,163
  2,317
  2,475
  2,640
  2,812
  2,992
  3,177
  3,371
  3,573
  3,784
  4,003
  4,232
  4,472
  4,721
  4,982
  5,255
  5,540
  5,838
  6,151
  6,477
  6,819
  7,177
  7,552
  7,946
  8,357
Debt-to-equity ratio
  0.060
  0.080
  0.110
  0.130
  0.150
  0.160
  0.180
  0.190
  0.200
  0.210
  0.220
  0.230
  0.240
  0.250
  0.260
  0.260
  0.270
  0.280
  0.280
  0.290
  0.290
  0.300
  0.300
  0.310
  0.310
  0.310
  0.320
  0.320
  0.320
  0.330
Adjusted equity ratio
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723
  0.723

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  327
  356
  386
  417
  450
  484
  519
  556
  594
  633
  703
  746
  791
  837
  886
  936
  989
  1,044
  1,101
  1,162
  1,224
  1,290
  1,359
  1,431
  1,506
  1,585
  1,667
  1,753
  1,844
  1,939
Depreciation, amort., depletion, $m
  93
  97
  102
  107
  112
  117
  123
  128
  134
  141
  108
  115
  122
  129
  136
  144
  153
  161
  170
  180
  189
  200
  210
  222
  233
  246
  259
  272
  286
  301
Funds from operations, $m
  419
  453
  488
  524
  562
  601
  642
  684
  728
  774
  811
  860
  912
  966
  1,022
  1,080
  1,141
  1,205
  1,272
  1,341
  1,414
  1,490
  1,569
  1,652
  1,739
  1,830
  1,926
  2,026
  2,130
  2,240
Change in working capital, $m
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from operations, $m
  420
  453
  488
  524
  562
  601
  642
  685
  729
  774
  811
  861
  913
  967
  1,023
  1,081
  1,142
  1,206
  1,272
  1,342
  1,415
  1,491
  1,570
  1,653
  1,740
  1,832
  1,927
  2,027
  2,132
  2,242
Maintenance CAPEX, $m
  -49
  -53
  -58
  -63
  -68
  -73
  -78
  -83
  -89
  -95
  -101
  -108
  -115
  -122
  -129
  -136
  -144
  -153
  -161
  -170
  -180
  -189
  -200
  -210
  -222
  -233
  -246
  -259
  -272
  -286
New CAPEX, $m
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -64
  -67
  -70
  -73
  -76
  -79
  -83
  -86
  -90
  -94
  -98
  -103
  -108
  -113
  -118
  -123
  -129
  -135
  -142
  -148
Cash from investing activities, $m
  -93
  -98
  -105
  -112
  -119
  -126
  -133
  -140
  -149
  -157
  -165
  -175
  -185
  -195
  -205
  -215
  -227
  -239
  -251
  -264
  -278
  -292
  -308
  -323
  -340
  -356
  -375
  -394
  -414
  -434
Free cash flow, $m
  327
  354
  383
  413
  444
  476
  509
  544
  580
  617
  646
  686
  728
  772
  818
  866
  915
  967
  1,021
  1,078
  1,137
  1,198
  1,263
  1,330
  1,401
  1,475
  1,552
  1,633
  1,718
  1,807
Issuance/(repayment) of debt, $m
  34
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  76
  79
  83
  86
  90
  95
  99
  104
  109
  114
Issuance/(repurchase) of shares, $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 from financing (excl. dividends), $m  
  34
  35
  36
  38
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  58
  61
  63
  66
  69
  72
  76
  79
  83
  86
  90
  95
  99
  104
  109
  114
Total cash flow (excl. dividends), $m
  361
  389
  419
  450
  483
  516
  551
  588
  626
  665
  695
  738
  782
  828
  876
  926
  979
  1,033
  1,090
  1,150
  1,212
  1,277
  1,346
  1,417
  1,491
  1,570
  1,651
  1,737
  1,827
  1,921
Retained Cash Flow (-), $m
  -88
  -91
  -95
  -99
  -102
  -106
  -111
  -115
  -120
  -124
  -129
  -135
  -140
  -146
  -152
  -159
  -166
  -173
  -181
  -189
  -197
  -206
  -216
  -226
  -236
  -247
  -259
  -271
  -284
  -298
Prev. year cash balance distribution, $m
  494
  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
  37
  40
  43
  47
  51
  54
  58
  62
  67
  71
  76
  81
  86
  91
  96
  102
  108
  114
  121
  127
  134
  142
  149
  157
  166
  175
  184
  193
  204
  214
Cash available for distribution, $m
  767
  298
  325
  352
  380
  410
  441
  473
  506
  541
  566
  603
  642
  682
  724
  768
  813
  861
  910
  961
  1,015
  1,071
  1,130
  1,191
  1,255
  1,322
  1,392
  1,466
  1,543
  1,623
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
  736
  273
  282
  290
  295
  298
  298
  296
  291
  283
  269
  257
  244
  229
  213
  195
  177
  158
  140
  122
  105
  89
  74
  61
  49
  39
  30
  23
  17
  12
Current shareholders' claim on cash, %
  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 Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world. The Company's segments are Private Banks, Investment Advisors, Institutional Investors, Investment Managers and Investments in New Businesses. The Company's investment management business solutions include investment processing outsourcing solutions for providers of institutional and private-client wealth management services, including banks, trust companies, independent wealth advisors and other financial services firms, and investment management solutions for institutional investors, including retirement plan sponsors, not-for-profit organizations and individual investors.

FINANCIAL RATIOS  of  SEI Investments (SEIC)

Valuation Ratios
P/E Ratio 29
Price to Sales 6.9
Price to Book 7.4
Price to Tangible Book
Price to Cash Flow 22.8
Price to Free Cash Flow 28.2
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 79.2%
Gross Margin - 3 Yr. Avg. 78.6%
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 $1527 million for the last fiscal year's total revenue generated by SEI Investments. The default revenue input number comes from 2017 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 8.9% 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 73.2%.

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 5.4% 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 2.4%.

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 32.1%.

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 -0.3%. 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 - $1477 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 158 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 $9.6 billion.

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COMPANY NEWS

▶ SEI: 2Q Earnings Snapshot   [Jul-19-18 04:37PM  Associated Press]
▶ SEI Investments Earnings Preview   [09:01AM  Benzinga]
▶ Why SEI Investments Co (NASDAQ:SEIC) Could Be A Buy   [Jun-24-18 10:43AM  Simply Wall St.]
▶ BBVA Compass Adopts SEI Wealth Platform   [Jun-04-18 09:00AM  PR Newswire]
▶ Bremer Bank Adopts SEI Wealth Platform   [May-14-18 09:00AM  PR Newswire]
▶ SEI: 1Q Earnings Snapshot   [Apr-25-18 05:36PM  Associated Press]
▶ What Is SEI Investments Cos (NASDAQ:SEIC) Share Price Doing?   [Apr-17-18 07:09AM  Simply Wall St.]
▶ Edited Transcript of SEIC presentation 6-Mar-17 7:30am GMT   [Apr-10-18 10:59AM  Thomson Reuters StreetEvents]
▶ BMO Wealth Management Adopts SEI Wealth Platform   [Mar-21-18 09:00AM  PR Newswire]
▶ SEI and Synechron Join Forces for Blockchain Utilization   [Mar-07-18 09:00AM  PR Newswire]
▶ SEI misses 4Q profit forecasts   [Jan-31-18 04:23PM  Associated Press]
▶ Can State Street Recover Its Discounted Valuations?   [Dec-20-17 09:00AM  Market Realist]
▶ SEI Declares Dividend of $0.30 Per Share   [Dec-12-17 04:48PM  PR Newswire]
▶ SEI To Hold Investor Conference   [Nov-09-17 03:00PM  PR Newswire]
▶ Regions Bank Goes Live on SEI Wealth Platform   [Oct-26-17 09:00AM  PR Newswire]
▶ SEI beats Street 3Q forecasts   [Oct-25-17 05:17PM  Associated Press]
▶ SEI Names David Hintz US Equity Portfolio Manager   [Oct-05-17 04:11PM  PR Newswire]
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