Business
SEI Reports Second-Quarter 2021 Financial Results
OAKS, Pa., July 21, 2021 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the second-quarter 2021. Diluted earnings
About this update from Sei Investments Company
[{"type":"text","content":"OAKS, Pa., July 21, 2021 /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the second-quarter 2021. Diluted earnings per share were $0.93 in second-quarter 2021 compared to $0.68 in second-quarter 2020. \nConsolidated Overview\n(In thousands, except earnings per share)\nFor the Three Months Ended June 30,\nFor the Six MonthsEnded June 30,\n2021\n2020\n%\n2021\n2020\n%\nRevenues\n$475,651\n$400,646\n19%\n$931,337\n$815,408\n14%\nNet income \n133,778\n101,066\n32%\n263,248\n210,308\n25%\nDiluted earnings per share\n$0.93\n$0.68\n37%\n$1.82\n$1.39\n31%\n\"Our second-quarter results reflect positive markets, improving sales momentum and solid capital returns to shareholders. We continue to invest in our technology and investment solutions to deliver best-in-class products and services to our clients,\" said Alfred P. West, Jr., SEI Chairman and CEO. \n\"As the industry evolves coming out of the pandemic, we continue to execute growth strategies across our business and take advantage of increasing demands for integrated technologies, sound operational solutions and a market-responsive investment approach. For more than 50 years, our stability, scale and success have been driven by seizing opportunities powered by our dedicated, talented workforce and tech-driven solutions. We are committed to delivering long-term value to our shareholders, employees, clients and communities.\"\nSummary of Second-Quarter Results by Business Segment\n(In thousands)\nFor the Three MonthsEnded June 30,\nFor the Six MonthsEnded June 30, \n2021\n2020\n%\n2021\n2020\n%\nPrivate Banks:\nRevenues\n$123,676\n$107,726\n15%\n$241,284\n$220,947\n9%\nExpenses\n117,654\n107,723\n9%\n228,378\n218,376\n5%\nOperating Profit\n6,022\n3\nNM\n12,906\n2,571\n402%\nOperating Margin\n5\n%\n—\n%\n5\n%\n1\n%\nInvestment Advisors:\nRevenues\n119,396\n93,708\n27%\n232,690\n196,029\n19%\nExpenses\n59,133\n50,149\n18%\n114,160\n102,581\n11%\nOperating Profit\n60,263\n43,559\n38%\n118,530\n93,448\n27%\nOperating Margin\n50\n%\n46\n%\n51\n%\n48\n%\nInstitutional Investors:\nRevenues\n85,699\n76,523\n12%\n170,198\n155,726\n9%\nExpenses\n41,895\n36,937\n13%\n81,053\n75,204\n8%\nOperating Profit\n43,804\n39,586\n11%\n89,145\n80,522\n11%\nOperating Margin\n51\n%\n52\n%\n52\n%\n52\n%\nInvestment Managers:\nRevenues\n142,808\n119,340\n20%\n279,227...