secwatch.observer — SEC 8-K summary
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Issuer:     SEI INVESTMENTS CO (SEIC)
CIK:        0000350894
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0000350894-24-000078
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SEI Q1 EPS $0.99 (+25% YoY), revenue $511.6M (+9%); Private Banks OP up 103%
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- Diluted EPS $0.99 vs $0.79 Q1 2023 (+25%); revenue $511.6M (+9%).
- Private Banks operating profit surged 103% to $17.2M; Investment Advisors operating margin 45%.
- Net sales events in Private Banks & Investment Managers totaled $24.5M, expected to generate ~$20.7M annual recurring revenue.
- LSV earnings rose to $31.6M (+9%) on market appreciation and performance fees; repurchased 808k shares for $56M.
- Free cash flow $92.9M; capitalized software $6.3M for SWP and new IM platform.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/350894/000035089424000078/0000350894-24-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/350894/000035089424000078/seic-20240424.htm
  HTML page:      https://secwatch.observer/filing/0000350894-24-000078

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