SEI Investments Co. (SEIC) continues to battle through a challenging environment, beating estimates in its last reported quarter, sending estimates higher.
Company Description
SEI Investments Company provides asset management processing and investment operations software solutions to institutional and personal wealth management firms. The firm was founded in 1968 and has market cap of $3.25 billion.
First-Quarter Results
SEU has struggled in the weak economy of the last year, but the company was still able to beat analyst estimates on AR 23 when reporting its first-quarter results.
Revenue was down from the same period last year, but when removing one-time items, earnings came in at 23 cents per share, 1 penny ahead of the consensus.
One-Time Charges Clip Income
SEI noted that its income was effected due to a one-time charge of $14.4 million related to defaults in a structured investment vehicle.
Strong Growth Projection
In spite of the challenging environment and tough quarter, estimates are up, with the current-year climbing 4 cents in the last 60 days to $88 cents.
The next-year estimate is bullish, pegged at $1.09, a 23% earnings growth projection.
Income
SEI has carries a solid growth projection from the analyst community, but the company also pays a 1% dividend, adding a bit of cushion to the bottom line.
