SEI Investments Company (SEIC) CEO Al West on Q1 2021 Results - Earnings Call Transcript

Apr. 21, 2021 11:42 PM ETSEI Investments Company (SEIC)
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SEI Investments Company (NASDAQ:SEIC) Q1 2021 Earnings Conference Call April 21, 2021 4:30 PM ET

Company Participants

Al West - Chairman and CEO

Dennis McGonigle - CFO

Steve Meyer - EVP, Head of Global Wealth Management Services

Wayne Withrow - EVP, Independent Advisor Solutions

Paul Klauder - EVP, Head of the Institutional Group

Conference Call Participants

Owen Lau - Oppenheimer

Ryan Kenny - Morgan Stanley

Chris Donat - Piper Sandler

Robert Lee - KBW

Ryan Bailey - Goldman Sachs


Ladies and gentlemen, thank you for standing by and welcome to the SEI First Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. Later, we'll have a question-and-answer session. Instructions will be given at that time. [Operator Instructions] As a reminder today’s conference is being recorded.

I'd like to turn the conference over to our host Chairman and CEO, Al West. Please go ahead.

Al West

Thank you and welcome, everyone. All of our segment leaders are on the call, as well as Dennis McGonigle, SEI's CFO; and Kathy Heilig, SEI's Controller.

I'll start by recapping first quarter 2021. I'll then turn it over to Dennis to cover LSV and the investment in new business segment. After that, each business segment leader will comment on the results of their segments. As usual, we'll field questions at the end of each report.

So, let's turn our attention to the financial results of the first quarter 2021. First quarter revenue grew 10% from a year ago and first quarter earnings increased by 19% from a year ago. In addition, first quarter EPS of $0.89 grew 24% from the $0.72 reported in first quarter 2020. Finally, first quarter asset balances grew by $3.4 billion, while LSV's balances grew by $7.9 billion.

During the quarter we repurchase 1.2 million

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