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OAKS, Pennsylvania - SEI Investments Company (NASDAQ:SEIC) reported fourth quarter 2024 financial results that were mixed compared to analyst expectations, with earnings slightly missing estimates but revenue coming in ahead of forecasts. The company’s shares edged down 0.7% following the release.
SEI posted adjusted earnings per share of $1.19 for Q4, falling short of the $1.21 consensus estimate. However, revenue grew 15% YoY to $557.19 million, surpassing analyst projections of $555.63 million.
"Our record 2024 results reflect consistent execution against our growth strategy, particularly the progress we have driven in the last 18 months," said CEO Ryan Hicke. He noted that net sales events in 2024 increased 58% from 2023, "representing a mix across our entire organization and reinforcing the high level of market engagement for our enterprise capabilities."
For the fourth quarter, SEI’s consolidated revenues increased 15% YoY while operating income jumped 43% compared to Q4 2023. Operating margins expanded to 26% from 21% in the year-ago period.
The company’s assets under administration rose 15% YoY to $1.06 trillion as of December 31, 2024. Assets under management grew 18% YoY to $476.7 billion.
SEI repurchased 3.1 million shares of its common stock for $259.5 million during Q4 at an average price of $83.43 per share.
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