OAKS, Pa. - SEI (NASDAQ:SEIC), a provider of technology and investment solutions, has announced that its alternative assets under administration have surpassed $1.5 trillion. The company's Investment Managers business, which services a broad range of funds including private equity, private credit, and hedge funds, has reached this milestone, reinforcing SEI's position as the leading private credit fund administrator globally.
The global alternative assets market is forecasted to grow to $24.5 trillion by 2028, with private equity and private debt expected to reach $8.5 trillion and $2.8 trillion, respectively. SEI’s operational centers in Oaks, PA, London, Dublin, and Luxembourg offer an integrated platform that provides clients with transparency and efficiency in fund operations.
Phil McCabe, Head of SEI's Investment Managers business, stated that SEI’s growth is a testament to its commitment to delivering expertise and innovative solutions to clients worldwide. He highlighted SEI's ability to help clients navigate the complexities of the market, meet increasing investor demands, and handle a challenging regulatory environment.
SEI's services are designed to help investment managers and asset owners scale operations and manage their businesses more strategically. The company's global operating platform supports a wide range of investment strategies and jurisdictions.
This announcement is based on a press release statement from SEI Investments Company (NASDAQ:SEIC). The company manages, advises, or administers approximately $1.5 trillion in assets as of June 30, 2024. SEI serves traditional and alternative asset managers, including 43 of the top 100 asset managers worldwide, according to Pensions & Investments' 2023 ranking. For more information on SEI and its services, interested parties can visit the company's website.
In other recent news, SEI Investments reported strong Q2 2024 results, with earnings per share (EPS) of $1.05 and robust revenue of $519 million. The company's focus on expanding its Registered Investment Advisor segment, inorganic growth opportunities, and technological advancements significantly contributed to these positive financial outcomes. In response to these results, Piper Sandler adjusted its outlook on SEI Investments, reducing the stock's price target to $71 from the previous $72, while maintaining a neutral stance.
SEI Investments has also recently released its 2023 Corporate Responsibility Report, outlining its Environmental, Social, and Governance (ESG) initiatives and programs. The company has also announced an enhanced integration with Canoe Intelligence, aimed at improving operational efficiency for family offices and automating private equity and hedge fund valuations.
Furthermore, SEI Investments appointed Michael Lane as Executive Vice President and Head of Asset in North America, demonstrating its commitment to leadership and growth. These are the latest developments in SEI Investments' ongoing commitment to corporate citizenship, sustainability, and growth in the financial industry.
InvestingPro Insights
As SEI (NASDAQ:SEIC) continues to expand its footprint in the alternative assets market, recent data and analysis from InvestingPro provide a deeper look into the company's financial health and market performance. SEIC's market capitalization stands at $8.49 billion, reflecting the company's substantial presence in the investment solutions sector. The firm's commitment to returning value to shareholders is evident through its impressive track record of maintaining dividend payments for 37 consecutive years, with a current dividend yield of 1.41%. This dedication is further highlighted by SEIC's history of raising its dividend for 10 consecutive years, showcasing a strong and stable financial position.
InvestingPro Tips for SEIC reveal that analysts are optimistic about the company's financial prospects. Two analysts have revised their earnings estimates upwards for the upcoming period, indicating potential growth and confidence in SEIC's performance. Additionally, SEIC is trading at a low P/E ratio of 16.94 relative to near-term earnings growth, which may suggest that the stock is undervalued given its growth potential.
From a profitability standpoint, SEIC has been profitable over the last twelve months, with a robust gross profit margin of 78.38%. This financial stability is further supported by the fact that the company's cash flows can sufficiently cover interest payments, ensuring financial resilience even in challenging economic conditions. SEIC's liquid assets also exceed its short-term obligations, providing a cushion against market volatility and reinforcing its position as a reliable investment.
For investors interested in more detailed analysis, there are additional InvestingPro Tips available for SEIC at https://www.investing.com/pro/SEIC, offering a comprehensive view of the company's financial landscape and future outlook.
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