Sei Board Adds $800 Million Buyback Authorization

The Tip Desk · October 26, 2026 · 3 min read

The financial-technology firm raised available repurchase capacity to about $926 million after third-quarter sales events of $46.8 million.

SEI Investments Company (SEIC) said its board approved an additional $800 million of share-repurchase authorization on October 20, raising available capacity under the program to about $926 million. The company repurchased 2.0 million shares for $215.1 million in the third quarter at an average price of $105.24 a share and ended the period with $399.8 million of cash.

Revenue growth slowed to 14% from 15% in the second quarter, after 13% in the first. Revenue was $662.0 million. GAAP operating income rose 24% to $198.0 million, slower than the 33% increase in the prior quarter. Operating margin was 30%. Adjusted operating income rose 25% to $208.5 million, and the adjusted operating margin was 31%. Diluted earnings were $1.38 a share, up 6%. Adjusted diluted earnings were $1.64 a share, up 24%.

Net sales events totaled $46.8 million, the second-highest quarterly level in the company’s history, bringing year-to-date net sales events to $157.4 million. Investment Managers led with $32.0 million of net sales events from new client wins and expansions. Private Banks generated $12.6 million. Investment Advisors generated $2.4 million. Institutional Investors recorded negative $2.3 million.

Private Banks revenue increased 11% and operating profit increased 38% to $32.2 million, with the operating margin at 20%. The company said the result showed operating leverage as the business continued to grow, including increased adoption of professional services. Investment Managers revenue and operating profit each increased 14%; operating profit was $92.3 million. Absent $6.4 million of additional incentive compensation expense tied to year-to-date performance and the outlook for the rest of the year, Investment Managers operating profit would have increased 17%.

Investment Advisors revenue increased 26% and operating profit increased 11% to $75.7 million. Stratos contributed $23.3 million of revenue and $4.4 million of operating profit, including $7.3 million of acquired intangible amortization. Excluding Stratos, Advisors revenue increased 10% and operating profit increased 7%. The integrated cash program contributed $20.8 million, matching the year-ago quarter.

Institutional Investors revenue declined 2% and operating profit declined 3% to $32.8 million, reflecting prior client outflows.

Ending assets under management decreased 0.1% to $606.4 billion from the second quarter, after about a 9.5% increase in the prior quarter. LSV assets declined 1% as strong investment performance was offset by $5.3 billion of net outflows. Performance fees totaled $4.5 million at SEI’s share. Assets under administration, assets on platform, and assets under advisement increased 4% during the quarter, driven primarily by continued growth in Investment Managers, including funding from recently won mandates and additional client capital deployment.

Other expenses included a $32.5 million one-time charge associated with the termination agreement with Stratos to purchase its Mexican-based subsidiary, NSC.

Chief Executive Ryan Hicke said year-to-date sales results had already surpassed the highest full-year total in SEI’s history.