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Results were aided by higher revenues and a rise in assets under management (AUM) and the first full-quarter contribution from the Stratos acquisition. However, higher expenses acted as a spoilsport.
Results excluded intangible assets, amortization and impairment charges. After considering this, net income attributable to SEI Investments was $174.5 million, up 15.2% from the year-ago quarter.
SEIC’s Revenues & AUM Improve, Expenses Rise
Total quarterly revenues were $622.2 million, up 12.8% year over year. The rise was driven by higher asset management, administration and distribution fees, as well as information processing and software servicing fees. The top line beat the Zacks Consensus Estimate of $610.8 million.
Total expenses were $432.7 million, up 9.8% year over year. The increase was driven by a rise in almost all cost components, except for consulting, outsourcing and professional fees, and depreciation charges.
Operating income (GAAP) rose 20.6% year over year to $189.5 million, which excludes the impact of intangible assets amortization and impairments. Including this, adjusted operating income increased 23.8% to $198.7 million.
As of March 31, 2026, AUM was $554.1 billion, reflecting a rise of 14% from the prior-year quarter. Client assets under administration (AUA) were $1.29 trillion, up 19.3%. Client AUA did not include $13.3 billion related to Funds of Funds assets reported as of March 31, 2026.
SEI Investments’ Share Repurchase Update
In the reported quarter, SEIC bought back 2.6 million shares for $208.3 million at an average price of $81.55 per share.
Our View on SEIC
SEI Investments’ global presence, diverse product offerings, solid balance sheet, expanding margins and a robust AUM balance are expected to keep supporting the top line. However, elevated operating expenses and continued investment in technology and integration initiatives are concerning.
SEI Investments Company Price, Consensus and EPS Surprise
BlackRock’s (BLK - Free Report) first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. AUM balance witnessed robust growth, driven by net inflows. However, the higher expenses was a headwind.
An Upcoming Asset Manager Release
Invesco (IVZ - Free Report) is scheduled to announce first-quarter 2026 numbers on April 28.
Over the past seven days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has been unchanged at 59 cents. The figure implies a rise of 34.1% from the prior-year quarter’s actual.
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SEI Investments Beats on Q1 Earnings as Revenues & AUM Rise Y/Y
Key Takeaways
SEI Investments Co.’s (SEIC - Free Report) first-quarter 2026 adjusted earnings per share of $1.44 surpassed the Zacks Consensus Estimate of $1.29. Moreover, the bottom line reflected a rise of 21% from the prior-year quarter.
Results were aided by higher revenues and a rise in assets under management (AUM) and the first full-quarter contribution from the Stratos acquisition. However, higher expenses acted as a spoilsport.
Results excluded intangible assets, amortization and impairment charges. After considering this, net income attributable to SEI Investments was $174.5 million, up 15.2% from the year-ago quarter.
SEIC’s Revenues & AUM Improve, Expenses Rise
Total quarterly revenues were $622.2 million, up 12.8% year over year. The rise was driven by higher asset management, administration and distribution fees, as well as information processing and software servicing fees. The top line beat the Zacks Consensus Estimate of $610.8 million.
Total expenses were $432.7 million, up 9.8% year over year. The increase was driven by a rise in almost all cost components, except for consulting, outsourcing and professional fees, and depreciation charges.
Operating income (GAAP) rose 20.6% year over year to $189.5 million, which excludes the impact of intangible assets amortization and impairments. Including this, adjusted operating income increased 23.8% to $198.7 million.
As of March 31, 2026, AUM was $554.1 billion, reflecting a rise of 14% from the prior-year quarter. Client assets under administration (AUA) were $1.29 trillion, up 19.3%. Client AUA did not include $13.3 billion related to Funds of Funds assets reported as of March 31, 2026.
SEI Investments’ Share Repurchase Update
In the reported quarter, SEIC bought back 2.6 million shares for $208.3 million at an average price of $81.55 per share.
Our View on SEIC
SEI Investments’ global presence, diverse product offerings, solid balance sheet, expanding margins and a robust AUM balance are expected to keep supporting the top line. However, elevated operating expenses and continued investment in technology and integration initiatives are concerning.
SEI Investments Company Price, Consensus and EPS Surprise
SEI Investments Company price-consensus-eps-surprise-chart | SEI Investments Company Quote
Currently, SEI Investments carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Another Asset Manager
BlackRock’s (BLK - Free Report) first-quarter 2026 adjusted earnings of $12.53 per share handily surpassed the Zacks Consensus Estimate of $11.96. The figure reflects a 10.9% rise from the year-ago quarter.
BLK’s results benefited from a rise in revenues. AUM balance witnessed robust growth, driven by net inflows. However, the higher expenses was a headwind.
An Upcoming Asset Manager Release
Invesco (IVZ - Free Report) is scheduled to announce first-quarter 2026 numbers on April 28.
Over the past seven days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has been unchanged at 59 cents. The figure implies a rise of 34.1% from the prior-year quarter’s actual.