secwatch.observer — SEC 8-K summary
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Issuer:     SEI INVESTMENTS CO (SEIC)
CIK:        0000350894
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0000350894-23-000052
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SEI Q1 2023 EPS $0.79 vs $1.36; revenue down 19% to $469M
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- Net income $107M, operating profit $102M (-53% YoY).
- Private Banks revenue fell 43% to $122.6M due to prior-year $88M one-time fee.
- Average AUM (ex LSV) down 14% to $167.8B from $194.5B.
- Net sales events of $21.2M expected to generate $17.1M annualized recurring revenue.
- Repurchased 1.4M shares for $80.3M at avg $59.03/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/350894/000035089423000052/0000350894-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/350894/000035089423000052/seic-20230420.htm
  HTML page:      https://secwatch.observer/filing/0000350894-23-000052

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer