SEI Investments Company's (SEIC) CEO Alfred West on Q3 2021 Results - Earnings Call Transcript

Oct. 20, 2021 10:02 PM ETSEI Investments Company (SEIC)
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SEI Investments Company (NASDAQ:SEIC) Q3 2021 Earnings Conference Call October 20, 2021 4:30 PM ET

Company Participants

Alfred West - Chairman and CEO

Dennis McGonigle - EVP and Chief Financial Officer

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

Robert Lee - KBW

Christopher Donat - Piper Sandler

Ryan Kenny - Morgan Stanley

Ryan Bailey - Goldman Sachs

Rajiv Bhatia - Morningstar


Ladies and gentlemen, thank you for standing by and welcome to the SEI Third Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session and I'll give instructions at that time. [Operator Instructions] And as a reminder, this call is being recorded.

I would now like to turn the conference over to our host, Chairman and CEO, Al West. Please go ahead sir.

Alfred 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 third 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. And as usual, we will field questions at the end of each report.

So, let's now turn our attention to the financial results of the third quarter 2021. Third quarter revenues grew 14% from a year ago. Third quarter earnings increased by 24% from a year ago, and third quarter EPS of $0.97 grew 29% from the $0.75 reported in the third quarter 2020. Third quarter asset balances decreased by approximately $3.7 billion, while LSV's balance decreased by $4.8 billion.

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