Intrinsic value of SEI Investments - SEIC

Previous Close

$62.59

  Intrinsic Value

$37.44

stock screener

  Rating & Target

sell

-40%

Previous close

$62.59

 
Intrinsic value

$37.44

 
Up/down potential

-40%

 
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 0001), $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 9.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  8.70
  8.33
  8.00
  7.70
  7.43
  7.18
  6.97
  6.77
  6.59
  6.43
  6.29
  6.16
  6.04
  5.94
  5.85
  5.76
  5.69
  5.62
  5.56
  5.50
  5.45
  5.40
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
Revenue, $m
  1,659
  1,798
  1,941
  2,091
  2,246
  2,407
  2,575
  2,749
  2,931
  3,119
  3,316
  3,520
  3,733
  3,954
  4,185
  4,427
  4,678
  4,941
  5,216
  5,502
  5,802
  6,116
  6,444
  6,787
  7,147
  7,523
  7,917
  8,330
  8,763
  9,216
Variable operating expenses, $m
  1,211
  1,309
  1,410
  1,516
  1,626
  1,740
  1,858
  1,981
  2,109
  2,242
  2,342
  2,486
  2,636
  2,793
  2,956
  3,127
  3,304
  3,490
  3,684
  3,886
  4,098
  4,320
  4,552
  4,794
  5,048
  5,314
  5,592
  5,884
  6,189
  6,510
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
  1,211
  1,309
  1,410
  1,516
  1,626
  1,740
  1,858
  1,981
  2,109
  2,242
  2,342
  2,486
  2,636
  2,793
  2,956
  3,127
  3,304
  3,490
  3,684
  3,886
  4,098
  4,320
  4,552
  4,794
  5,048
  5,314
  5,592
  5,884
  6,189
  6,510
Operating income, $m
  448
  489
  531
  575
  620
  668
  717
  768
  821
  877
  974
  1,034
  1,096
  1,161
  1,229
  1,300
  1,374
  1,451
  1,532
  1,616
  1,704
  1,796
  1,892
  1,993
  2,099
  2,209
  2,325
  2,446
  2,573
  2,707
EBITDA, $m
  540
  585
  632
  681
  731
  784
  839
  895
  954
  1,016
  1,080
  1,146
  1,216
  1,288
  1,363
  1,442
  1,524
  1,609
  1,699
  1,792
  1,890
  1,992
  2,099
  2,210
  2,328
  2,450
  2,578
  2,713
  2,854
  3,001
Interest expense (income), $m
  1
  2
  3
  5
  7
  9
  11
  13
  16
  18
  20
  23
  25
  28
  31
  34
  37
  40
  44
  47
  51
  55
  59
  63
  67
  72
  76
  81
  87
  92
  98
Earnings before tax, $m
  446
  485
  526
  568
  611
  657
  704
  753
  804
  857
  951
  1,008
  1,068
  1,130
  1,195
  1,263
  1,334
  1,408
  1,485
  1,565
  1,649
  1,738
  1,830
  1,926
  2,027
  2,133
  2,244
  2,360
  2,481
  2,609
Tax expense, $m
  121
  131
  142
  153
  165
  177
  190
  203
  217
  231
  257
  272
  288
  305
  323
  341
  360
  380
  401
  423
  445
  469
  494
  520
  547
  576
  606
  637
  670
  704
Net income, $m
  326
  354
  384
  414
  446
  479
  514
  549
  587
  625
  694
  736
  780
  825
  873
  922
  974
  1,028
  1,084
  1,143
  1,204
  1,268
  1,336
  1,406
  1,480
  1,557
  1,638
  1,723
  1,811
  1,904

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
  1,476
  1,599
  1,727
  1,860
  1,998
  2,142
  2,291
  2,446
  2,607
  2,775
  2,950
  3,131
  3,321
  3,518
  3,724
  3,938
  4,162
  4,396
  4,640
  4,895
  5,162
  5,441
  5,733
  6,039
  6,358
  6,693
  7,044
  7,411
  7,796
  8,199
Adjusted assets (=assets-cash), $m
  1,476
  1,599
  1,727
  1,860
  1,998
  2,142
  2,291
  2,446
  2,607
  2,775
  2,950
  3,131
  3,321
  3,518
  3,724
  3,938
  4,162
  4,396
  4,640
  4,895
  5,162
  5,441
  5,733
  6,039
  6,358
  6,693
  7,044
  7,411
  7,796
  8,199
Revenue / Adjusted assets
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
  1.124
Average production assets, $m
  345
  374
  404
  435
  467
  501
  536
  572
  610
  649
  690
  732
  776
  822
  871
  921
  973
  1,028
  1,085
  1,145
  1,207
  1,272
  1,340
  1,412
  1,487
  1,565
  1,647
  1,733
  1,823
  1,917
Working capital, $m
  105
  113
  122
  132
  142
  152
  162
  173
  185
  197
  209
  222
  235
  249
  264
  279
  295
  311
  329
  347
  366
  385
  406
  428
  450
  474
  499
  525
  552
  581
Total debt, $m
  62
  96
  132
  169
  207
  247
  288
  331
  376
  422
  471
  521
  573
  628
  685
  744
  806
  871
  939
  1,009
  1,083
  1,161
  1,242
  1,326
  1,415
  1,507
  1,605
  1,706
  1,813
  1,925
Total liabilities, $m
  409
  443
  478
  515
  554
  593
  635
  678
  722
  769
  817
  867
  920
  974
  1,031
  1,091
  1,153
  1,218
  1,285
  1,356
  1,430
  1,507
  1,588
  1,673
  1,761
  1,854
  1,951
  2,053
  2,159
  2,271
Total equity, $m
  1,067
  1,156
  1,249
  1,345
  1,445
  1,549
  1,656
  1,769
  1,885
  2,006
  2,133
  2,264
  2,401
  2,544
  2,692
  2,847
  3,009
  3,178
  3,355
  3,539
  3,732
  3,934
  4,145
  4,366
  4,597
  4,839
  5,093
  5,358
  5,636
  5,928
Total liabilities and equity, $m
  1,476
  1,599
  1,727
  1,860
  1,999
  2,142
  2,291
  2,447
  2,607
  2,775
  2,950
  3,131
  3,321
  3,518
  3,723
  3,938
  4,162
  4,396
  4,640
  4,895
  5,162
  5,441
  5,733
  6,039
  6,358
  6,693
  7,044
  7,411
  7,795
  8,199
Debt-to-equity ratio
  0.060
  0.080
  0.110
  0.130
  0.140
  0.160
  0.170
  0.190
  0.200
  0.210
  0.220
  0.230
  0.240
  0.250
  0.250
  0.260
  0.270
  0.270
  0.280
  0.290
  0.290
  0.300
  0.300
  0.300
  0.310
  0.310
  0.320
  0.320
  0.320
  0.320
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
  326
  354
  384
  414
  446
  479
  514
  549
  587
  625
  694
  736
  780
  825
  873
  922
  974
  1,028
  1,084
  1,143
  1,204
  1,268
  1,336
  1,406
  1,480
  1,557
  1,638
  1,723
  1,811
  1,904
Depreciation, amort., depletion, $m
  92
  97
  101
  106
  111
  116
  122
  127
  133
  139
  106
  113
  119
  127
  134
  142
  150
  158
  167
  176
  186
  196
  206
  217
  229
  241
  253
  267
  280
  295
Funds from operations, $m
  418
  451
  485
  521
  557
  596
  635
  677
  720
  764
  800
  849
  899
  952
  1,006
  1,064
  1,123
  1,186
  1,251
  1,319
  1,390
  1,464
  1,542
  1,623
  1,709
  1,798
  1,891
  1,989
  2,092
  2,199
Change in working capital, $m
  8
  9
  9
  9
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
  17
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
Cash from operations, $m
  410
  442
  476
  511
  548
  585
  625
  666
  708
  752
  788
  836
  886
  938
  992
  1,048
  1,107
  1,169
  1,233
  1,301
  1,371
  1,444
  1,521
  1,602
  1,686
  1,774
  1,866
  1,963
  2,064
  2,171
Maintenance CAPEX, $m
  -49
  -53
  -58
  -62
  -67
  -72
  -77
  -82
  -88
  -94
  -100
  -106
  -113
  -119
  -127
  -134
  -142
  -150
  -158
  -167
  -176
  -186
  -196
  -206
  -217
  -229
  -241
  -253
  -267
  -280
New CAPEX, $m
  -27
  -29
  -30
  -31
  -32
  -34
  -35
  -36
  -38
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -90
  -94
Cash from investing activities, $m
  -76
  -82
  -88
  -93
  -99
  -106
  -112
  -118
  -126
  -133
  -141
  -148
  -157
  -165
  -175
  -184
  -194
  -205
  -215
  -227
  -238
  -251
  -264
  -277
  -292
  -307
  -323
  -339
  -357
  -374
Free cash flow, $m
  334
  360
  389
  418
  448
  480
  513
  547
  583
  619
  647
  687
  729
  772
  817
  864
  913
  965
  1,018
  1,074
  1,132
  1,193
  1,257
  1,324
  1,394
  1,467
  1,544
  1,624
  1,708
  1,796
Issuance/(repayment) of debt, $m
  32
  34
  35
  37
  38
  40
  41
  43
  45
  46
  48
  50
  52
  55
  57
  59
  62
  65
  68
  71
  74
  77
  81
  85
  89
  93
  97
  102
  107
  112
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  
  32
  34
  35
  37
  38
  40
  41
  43
  45
  46
  48
  50
  52
  55
  57
  59
  62
  65
  68
  71
  74
  77
  81
  85
  89
  93
  97
  102
  107
  112
Total cash flow (excl. dividends), $m
  367
  395
  424
  455
  487
  520
  554
  590
  627
  666
  696
  738
  781
  827
  874
  924
  975
  1,029
  1,086
  1,145
  1,206
  1,271
  1,338
  1,409
  1,483
  1,560
  1,641
  1,726
  1,815
  1,908
Retained Cash Flow (-), $m
  -85
  -89
  -92
  -96
  -100
  -104
  -108
  -112
  -117
  -121
  -126
  -131
  -137
  -143
  -149
  -155
  -162
  -169
  -177
  -185
  -193
  -202
  -211
  -221
  -231
  -242
  -254
  -266
  -278
  -292
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
  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
  776
  306
  332
  359
  387
  416
  446
  478
  511
  545
  569
  606
  644
  684
  726
  769
  814
  860
  909
  960
  1,013
  1,069
  1,127
  1,188
  1,251
  1,318
  1,387
  1,460
  1,536
  1,616
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
  744
  280
  289
  295
  300
  302
  302
  299
  293
  286
  270
  259
  245
  230
  213
  195
  177
  158
  140
  122
  105
  89
  74
  61
  49
  38
  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 29.8
Price to Sales 7.1
Price to Book 7.6
Price to Tangible Book
Price to Cash Flow 23.4
Price to Free Cash Flow 29
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 $1526.552 million for the last fiscal year's total revenue generated by SEI Investments. The default revenue input number comes from 0001 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 8.7% 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 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 20.8%.

Life of production assets of 6.5 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 6.3%. 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 - $1476.839 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 158.084 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 $9.9 billion.

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COMPANY NEWS

▶ 5 Top Stocks to Gain as Powell Backs Gradual Rate Hikes   [Aug-27-18 12:50PM  InvestorPlace]
▶ Legacy Trust Adopts SEI Wealth Platform   [Aug-16-18 09:00AM  PR Newswire]
▶ Bank Notes: Univest takes $12.7M charge for alleged Worley & Obetz loan fraud   [Jul-30-18 07:37AM  American City Business Journals]
▶ SEI taps another Morgan Lewis alum for its next general counsel   [Jul-23-18 01:22PM  American City Business Journals]
▶ 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]

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