During Thursday’s Current trade, Shares of SEI Investments Company (NASDAQ:SEIC), gain 2.13% to $54.07.
SEI Investments Company ( SEIC ) declared financial results for the second-quarter 2015. Diluted earnings per share were $.51 in second-quarter 2015 contrast to $.48 in second-quarter 2014.
Second-Quarter Business Highlights:
- Revenue growth was primarily driven by higher Asset administration, administration, and distribution fees from market appreciation and improved cash flows from new and existing clients.
- Sales events, net of client losses, during second-quarter 2015 totaled about $45.2 million and are predictable to generate net annualized recurring revenues of about $32.0 million when contract values are fully realized. Net annualized recurring and one-time revenues comprise a noteworthy sale of the SEI Wealth Platform to a current major U.S. client.
- Our average assets under administration, not taking into account LSV, raised $12.8 billion, or 8 percent, to $177.1 billion in the second-quarter 2015, as contrast to $164.3 billion during the second-quarter 2014.
- Our average assets under administration raised $47.7 billion, or 14 percent, to $396.2 billion in the second-quarter 2015, as contrast to $348.4 billion during the second-quarter 2014.
SEI Investments Co. is a publicly owned investment manager. The firm provides wealth administration and investment advisory services to its clients through its auxiliaries. Through its auxiliaries, it provides its services to corporations, financial institutions, financial advisors, high net worth families, banks and trust institutions, investment advisors, financial planners, not-for-profit organizations, and pension plans. The firm manages separate client-focused portfolios through its auxiliaries.
Shares of Kimco Realty Corp (NYSE:KIM), declined -0.73% to $24.37, during its current trading session.
Kimco Realty Corp. (KIM) stated that the company’s transaction activity for the second quarter of 2015 totaled more than $500 million. Highlights comprise the acquisition of the remaining 24.7% equity interest in the 14-property Kimco Income Fund II portfolio based on a gross value of $341.1 million and the disposition of 16 shopping centers for a gross sales price of $144.0 million. In addition the company sold 6.4 million shares of SUPERVALU INC. (SVU) common stock for $58.6 million.
ACQUISITIONS
In the second quarter, Kimco attained the full ownership interest in 14 high-quality shopping centers and several improved parcels adjacent to existing Tier 1 shopping centers totaling about 2.0 million square feet for a gross purchase price of about $367.4 million. Details of these transactions are as follows:
- Kimco Income Fund (KIF) II Portfolio: The company accomplished the acquisition of the 14-property KIF II portfolio from three existing joint venture partners based on a gross value of $341.1 million. Kimco, which formerly held a 75.3% ownership interest in this merged joint venture, paid about $30.5 million for the remaining 24.7% equity interest. The KIF II portfolio is a geographically-diversified, primarily grocery-anchored portfolio totaling 1.9 million square feet across nine states counting four sites located in California. The properties feature a well-known lineup of national retailers counting Kroger, Giant Food, Ross Stores, Bed Bath & Beyond, Best Buy, DSW and Burlington Stores, Inc.
With this acquisition, Kimco continues to execute on the company’s strategy of simplifying its business by reducing its number of joint ventures. Since 2010, the company has reduced the number of institutional joint venture partners by about 50%.
Kimco Realty Corporation is an independent real estate investment trust. The firm invests in the real estate markets across North America. It is primarily engaged in acquisitions, development, and administration of neighborhood and community shopping centers. The firm also provides property administration services regarding the administration, leasing, operation, and maintenance of real estate properties. Kimco Realty Corporation was formed in 1966 and is based in New Hyde Park, New York with additional office all across North America.
Golar LNG Limited (USA) (NASDAQ:GLNG), during its Thursday’s current trading session gained 0.04% to $45.60.
Golar LNG Limited declared that it has executed agreements for conversion of the 126,000 m3 LNG carrier Gandria to a Golar floating liquefaction facility (“GoFLNG”). As with the GoFLNG Hilli and Gimi conversions, the primary contract for the GoFLNG Gandria was reached with Singapore’s Keppel Shipyard Limited (“Keppel”). The Gandria conversion contract marks the exercise of the second of two options that formed part of the initial 2014 Hilli conversion contract. Black & Veatch will provide its licensed PRICO(R) technology, perform detailed engineering and process design, specify and procure topside equipment, and provide commissioning support for the GoFLNG topsides and liquefaction process.
The decision to go ahead with the third conversion project was taken following a thorough review of the growing portfolio of business development opportunities for GoFLNG. This has shown potential demand from several possible customers for delivery of floating liquefaction facilities as early as 2018. In order to respond to this potential, the Gandria conversion will now be dedicated to satisfy the commitments to Ophir in Equatorial Guinea, covered by the agreement declared in May this year, requiring delivery of GoFLNG facilities in 2019. In parallel with this decision to commit Gandria to the Ophir project, Keppel and Black & Veatch will now update their FEED study, accommodating the deep water operation in Equatorial Guinea on the basis of Gandria. This move will release the Gimi to cover the potential emerging demand for a 2018 GoFLNG project. Provisions in the Gimi and Gandria contracts provide Golar the flexibility to adjust project timing and to limit expenditure to front-end engineering activities and long-lead equipment cancellation charges should timing and scope of predictable or potential projects change.
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, liquefaction, and trading of LNG. The company operates in three segments: Vessel Operations, LNG Trading, and FLNG.
Finally, Six Flags Entertainment Corp (NYSE:SIX), gained 0.12%, to $46.21.
Six Flags Entertainment Corporation (SIX), the world’s largest regional theme park company, declared another record financial performance in the second quarter of 2015 as revenue grew $10 million or 3 percent to $386 million and Adjusted EBITDA1 grew $4 million or 3 percent to $149 million. Comparisons to preceding year were adversely influenced by foreign exchange rate translations from the company’s parks in Mexico and Canada and on a constant currency2 basis, revenue grew $14 million or 4 percent and Adjusted EBITDA grew $5 million or 4 percent.
For the first six months of 2015, revenue grew $21 million or 5 percent to $471 million, and Adjusted EBITDA grew $9 million or 9 percent to $111 million. On a constant currency basis, revenue for the first six months of 2015 grew $27 million or 6 percent and Adjusted EBITDA grew $11 million or 11 percent.
Six Flags Entertainment Corporation owns and operates regional theme and water parks. Its parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company owns and operates 18 parks, counting 16 parks in the United States; 1 park in Mexico City, Mexico; and 1 park in Montreal, Canada.
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