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SEI Wealth Platform sales to drive SEI Investments' earnings growth, KBW says

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SEI Wealth Platform sales to drive SEI Investments' earnings growth, KBW says

Keefe Bruyette & Woods analyst Robert Lee on April 5upgraded SEI InvestmentsCo. to "market perform" from "underperform,"saying that further SEI Wealth Platform sales combined with continued positivebusiness trends in other segments should drive earnings growth in mid-teens.

The analyst said SEI Investments generated solid growthacross its investment advisers, institutional investors and investment managementsegments, which are operating at high levels of profitability, but growth inits private banks segment has been modest. The company can generate betterorganic growth relative to traditional asset managers and has the potential tomeaningfully improve profitability over the coming years, particularly as itscales its substantial investment in SEI Wealth Platform, he said.

The analyst raised his price target to $45 from $38. His EPSestimates are $1.98 for 2016 and $2.55 for 2017.