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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.
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.
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.
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