SEI Investments (SEIC)
Market Price (10/5/2026): $101.6 | Market Cap: $12.2 BilSector: Financials | Industry: Asset Management & Custody Banks
SEI Investments (SEIC)
Market Price (10/5/2026): $101.6Market Cap: $12.2 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 5.4% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% Stock buyback supportStock Buyback 3Y Total is 1.6 Bil Low stock price volatilityVol 12M is 23% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. | Weak multi-year price returns3Y Excs Rtn is -4.6% | Key risksSEIC key risks include [1] platform attrition from the ongoing consolidation trend within the Registered Investment Advisor industry and [2] significant underperformance and strategic challenges within specific business segments, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.8%, FCF Yield is 5.4% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Stock buyback supportStock Buyback 3Y Total is 1.6 Bil |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and Digital & Alternative Assets. Themes include Wealth Management Technology, Private Equity, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -4.6% |
| Key risksSEIC key risks include [1] platform attrition from the ongoing consolidation trend within the Registered Investment Advisor industry and [2] significant underperformance and strategic challenges within specific business segments, Show more. |
Qualitative Assessment
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SEI Investments (SEIC) stock has gained about 15% since 6/30/2026 because of the following key factors:
1. SEI Investments (SEIC) reported robust adjusted earnings and revenue growth for fiscal Q2 2026, significantly exceeding analyst expectations. The company announced adjusted diluted earnings per share (EPS) of $1.66 for the fiscal quarter ended June 30, 2026, which surpassed analysts' estimates of $1.42 by 16.90%. This also represented a substantial 38% increase in adjusted EPS compared to the same period in the prior year. Concurrently, revenues grew by 15% year-over-year to $641.6 million for fiscal Q2 2026. This strong financial performance demonstrated effective strategic execution and operational efficiencies.
2. The company experienced significant sales momentum and expansion in its assets under management (AUM) and administration. During fiscal Q2 2026, SEI reported net sales events totaling $43.5 million, contributing to year-to-date sales events of $110.6 million. Assets under management increased by 9.5% to $606.7 billion, largely due to strong market appreciation and $2.0 billion in net inflows for LSV Asset Management. As of June 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets.
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SEI Investments (SEIC) stock has gained about 15% since 6/30/2026 because of the following key factors:
1. SEI Investments (SEIC) reported robust adjusted earnings and revenue growth for fiscal Q2 2026, significantly exceeding analyst expectations. The company announced adjusted diluted earnings per share (EPS) of $1.66 for the fiscal quarter ended June 30, 2026, which surpassed analysts' estimates of $1.42 by 16.90%. This also represented a substantial 38% increase in adjusted EPS compared to the same period in the prior year. Concurrently, revenues grew by 15% year-over-year to $641.6 million for fiscal Q2 2026. This strong financial performance demonstrated effective strategic execution and operational efficiencies.
2. The company experienced significant sales momentum and expansion in its assets under management (AUM) and administration. During fiscal Q2 2026, SEI reported net sales events totaling $43.5 million, contributing to year-to-date sales events of $110.6 million. Assets under management increased by 9.5% to $606.7 billion, largely due to strong market appreciation and $2.0 billion in net inflows for LSV Asset Management. As of June 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets.
3. SEI implemented key strategic initiatives and product enhancements that resonated positively with the market. In September 2026, SEI enhanced its integrated tax management capabilities for separately managed and unified managed accounts, extending asset eligibility to include mutual funds alongside ETFs and individual securities. This update also introduced more flexible tools for managing portfolios with unrealized gains. Additionally, SEI expanded its global footprint by opening a new office in Singapore on September 30, 2026, aimed at driving growth in the Asia-Pacific region. The company is also actively pursuing new growth initiatives in areas such as private markets, retirement, ETFs, and artificial intelligence/data services.
4. Positive analyst sentiment and favorable price targets likely contributed to the stock's appreciation. As of early October 2026, Wall Street analysts maintain a "Moderate Buy" consensus rating for SEIC. Out of 8 analysts, 7 have issued "Buy" ratings, and the average price target is $122.60, indicating an 18.03% potential upside from its price of $103.87. This optimistic outlook from the analytical community signals confidence in SEI's future performance and growth prospects.
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Stock Movement Drivers
Fundamental Drivers
The 16.8% change in SEIC stock from 6/30/2026 to 10/4/2026 was primarily driven by a 20.7% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 87.71 | 102.43 | 16.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,368 | 2,450 | 3.5% |
| Net Income Margin (%) | 31.2% | 28.8% | -7.5% |
| P/E Multiple | 14.5 | 17.4 | 20.7% |
| Shares Outstanding (Mil) | 122 | 120 | 1.1% |
| Cumulative Contribution | 16.8% |
Market Drivers
6/30/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| SEIC | 16.8% | |
| Market (SPY) | 3.1% | 26.9% |
| Sector (XLF) | -0.2% | 69.5% |
Fundamental Drivers
The 31.3% change in SEIC stock from 3/31/2026 to 10/4/2026 was primarily driven by a 30.8% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 78.01 | 102.43 | 31.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,297 | 2,450 | 6.7% |
| Net Income Margin (%) | 31.1% | 28.8% | -7.3% |
| P/E Multiple | 13.3 | 17.4 | 30.8% |
| Shares Outstanding (Mil) | 122 | 120 | 1.5% |
| Cumulative Contribution | 31.3% |
Market Drivers
3/31/2026 to 10/4/2026| Return | Correlation | |
|---|---|---|
| SEIC | 31.3% | |
| Market (SPY) | 18.6% | 13.7% |
| Sector (XLF) | 8.7% | 50.5% |
Fundamental Drivers
The 22.2% change in SEIC stock from 9/30/2025 to 10/4/2026 was primarily driven by a 15.2% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 83.84 | 102.43 | 22.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,206 | 2,450 | 11.1% |
| Net Income Margin (%) | 31.3% | 28.8% | -7.7% |
| P/E Multiple | 15.1 | 17.4 | 15.2% |
| Shares Outstanding (Mil) | 124 | 120 | 3.4% |
| Cumulative Contribution | 22.2% |
Market Drivers
9/30/2025 to 10/4/2026| Return | Correlation | |
|---|---|---|
| SEIC | 22.2% | |
| Market (SPY) | 16.5% | 31.0% |
| Sector (XLF) | 0.5% | 62.7% |
Fundamental Drivers
The 76.6% change in SEIC stock from 9/30/2023 to 10/4/2026 was primarily driven by a 36.1% change in the company's Net Income Margin (%).| (LTM values as of) | 9302023 | 10042026 | Change |
|---|---|---|---|
| Stock Price ($) | 58.00 | 102.43 | 76.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,886 | 2,450 | 29.9% |
| Net Income Margin (%) | 21.2% | 28.8% | 36.1% |
| P/E Multiple | 19.3 | 17.4 | -9.5% |
| Shares Outstanding (Mil) | 133 | 120 | 10.4% |
| Cumulative Contribution | 76.6% |
Market Drivers
9/30/2023 to 10/4/2026| Return | Correlation | |
|---|---|---|
| SEIC | 76.6% | |
| Market (SPY) | 86.2% | 61.0% |
| Sector (XLF) | 68.3% | 70.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SEIC Return | 7% | -3% | 11% | 31% | 1% | 26% | 92% |
| Peers Return | 25% | -24% | 19% | 25% | 19% | 5% | 78% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| SEIC Win Rate | 58% | 42% | 50% | 67% | 58% | 56% | |
| Peers Win Rate | 58% | 40% | 47% | 62% | 68% | 44% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| SEIC Max Drawdown | -14% | -25% | -17% | -12% | -23% | -15% | |
| Peers Max Drawdown | -13% | -39% | -24% | -10% | -22% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SSNC, STT, BR, BLK, NTRS. See SEIC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/2/2026 (YTD)
How Low Can It Go
| Event | SEIC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.8% | -18.8% |
| % Gain to Breakeven | 24.7% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.3% | -9.5% |
| % Gain to Breakeven | 20.9% | 10.5% |
| Time to Breakeven | 56 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.1% | -6.7% |
| % Gain to Breakeven | 15.1% | 7.1% |
| Time to Breakeven | 116 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.0% | -24.5% |
| % Gain to Breakeven | 28.2% | 32.4% |
| Time to Breakeven | 22 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.1% | -33.7% |
| % Gain to Breakeven | 88.9% | 50.9% |
| Time to Breakeven | 1410 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.2% | -19.2% |
| % Gain to Breakeven | 41.2% | 23.8% |
| Time to Breakeven | 213 days | 105 days |
In The Past
SEI Investments's stock fell -19.8% during the 2025 US Tariff Shock. Such a loss loss requires a 24.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | SEIC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.0% | -24.5% |
| % Gain to Breakeven | 28.2% | 32.4% |
| Time to Breakeven | 22 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -47.1% | -33.7% |
| % Gain to Breakeven | 88.9% | 50.9% |
| Time to Breakeven | 1410 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.2% | -19.2% |
| % Gain to Breakeven | 41.2% | 23.8% |
| Time to Breakeven | 213 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -38.2% | -12.2% |
| % Gain to Breakeven | 61.7% | 13.9% |
| Time to Breakeven | 489 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -31.0% | -17.9% |
| % Gain to Breakeven | 45.0% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -20.1% | -15.4% |
| % Gain to Breakeven | 25.2% | 18.2% |
| Time to Breakeven | 133 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -70.5% | -53.4% |
| % Gain to Breakeven | 239.1% | 114.4% |
| Time to Breakeven | 1530 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -20.8% | -8.6% |
| % Gain to Breakeven | 26.2% | 9.5% |
| Time to Breakeven | 57 days | 47 days |
In The Past
SEI Investments's stock fell -19.8% during the 2025 US Tariff Shock. Such a loss loss requires a 24.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About SEI Investments (SEIC)
SEI Investments Company (SEIC) is an asset management holding company that delivers a comprehensive suite of financial and investment solutions through its various subsidiaries. The company primarily operates by providing wealth management, retirement, and investment solutions, alongside asset management and administration services. Essentially, SEI helps manage money and offers critical operational and technology support to other financial entities.
Its main products and services include managing client-focused portfolios, launching and managing equity, fixed income, and balanced mutual funds. SEI also offers investment processing outsourcing solutions and asset administration, effectively acting as a back-office and technology partner for firms needing sophisticated investment infrastructure. The company employs both fundamental and quantitative analysis, utilizing top-down and bottom-up approaches for its investment strategies across public equity and fixed income markets.
SEI serves a broad and diverse client base, including private banks, independent financial advisers, and institutional investors such as endowments, foundations, and various retirement schemes (defined-benefit and defined-contribution). It also caters to investment managers, wealth management organizations, corporations, and not-for-profit organizations, providing tailored financial and investment advisory services across a wide spectrum of the financial industry.
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Here are 1-3 brief analogies for SEI Investments (SEIC):
It's like **Northern Trust or State Street for a wider array of financial advisors and institutions**, offering comprehensive investment management, administration, and tech solutions.
Think of it as a blend of **BlackRock's asset management and Fiserv's financial technology**, but tailored specifically for other wealth managers, banks, and institutional clients.
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- Wealth Management: Comprehensive services for managing and planning financial assets for individuals and institutions.
- Retirement Solutions: Products and services designed for retirement planning and managing retirement funds.
- Investment Management: Managing diverse investment portfolios for clients, including mutual funds and separate client-focused portfolios.
- Investment Advisory Services: Providing expert advice on investment strategies and financial decisions.
- Asset Administration: Providing back-office and administrative support services for client assets.
- Investment Processing Outsourcing Solutions: Offering outsourced services for the operational processing of investments.
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Major Customers of SEI Investments (SEIC)
SEI Investments primarily sells its services to other companies and organizations, rather than directly to individual consumers. The company serves a broad range of clients within the financial industry and institutional sectors. While specific named customer companies are not disclosed in the provided information, SEI's major customers fall into the following categories:
- Financial Intermediaries & Asset Managers: This includes private banks, independent financial advisers, investment managers, investment advisors, wealth management organizations, hedge fund managers, registered investment advisers, independent broker-dealers, financial planners, and life insurance agents.
- Institutional Clients: This category encompasses institutional investors, corporations, retirement scheme sponsors (including defined-benefit and defined-contribution schemes), not-for-profit organizations, endowments, foundations, and board-designated funds.
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Ryan P. Hicke
Chief Executive Officer
Ryan Hicke is responsible for SEI's global business strategy and execution across technology, operations, and asset management. He has a 27-year career at SEI, with experience spanning asset management and technology, split evenly between U.S. and global roles. Before becoming CEO, he served as Chief Information Officer, overseeing the company's information technology strategy and investment operations. He also previously led SEI's Technology Unit and was a Managing Director in its U.K. wealth management business. Hicke holds a degree in finance from Saint Joseph's University. He succeeded founder Alfred P. West, Jr. as CEO on June 1, 2022.
Sean J. Denham
Executive Vice President and Chief Financial and Chief Operating Officer
Sean Denham is responsible for leading SEI's finance and accounting, corporate controllership, internal audit, business management, enterprise risk management, and investor relations functions. His expanded role as CFO/COO also includes oversight of information technology, operations, and human resources functions. Denham joined SEI in March 2024. Prior to SEI, he spent 20 years at Grant Thornton, holding various leadership positions such as regional managing partner for the Atlantic Coast, National Audit growth leader, and national Special Purpose Acquisition Company (SPAC) leader. He began his career focused on audit and mergers and acquisitions at Ernst & Young and Amper, Politziner & Mattia. Denham is a Certified Public Accountant and earned a bachelor's degree in accounting from Lehigh University.
Paul F. Klauder
Executive Vice President and Head of SEI's Advisor business
Paul Klauder leads SEI's Advisor business and is responsible for its business and growth strategies across North American intermediary markets. A 30-year veteran at SEI, he previously served as Head of the Institutional business, overseeing investment products and services for global institutional clients. Before that, he was Vice President and Managing Director in the Institutional Group, focusing on new business development. Klauder joined SEI in 1993 and was instrumental in developing the company's investment outsourcing business. Prior to SEI, he worked at Arthur Andersen and Company as a Certified Public Accountant (CPA), specializing in financial service audits and employee benefit plan reviews and consultations.
Michael F. Lane
Executive Vice President, Head of Asset Management
Michael Lane is responsible for the business and growth strategy for SEI's Advisor and Institutional businesses in North America, and also leads SEI's global investment management teams. He brings 35 years of experience to his role. Before joining SEI, Michael served as Chair of U.S. Wealth at BlackRock, and prior to that, he was head of iShares for U.S. Wealth Advisory. He also held several leadership positions at Dimensional Fund Advisors, where he led the development of their retirement, broker-dealer, bank, and TAMP businesses.
Phil N. McCabe
Executive Vice President, Head of SEI's Investment Managers business
Phil McCabe is responsible for leading the global business strategy across operations, technology, sales, and service for SEI's Investment Managers' business. He joined SEI in 1989 and has held various senior leadership roles within SEI, including in the Investment Managers' business, the Private Banking and Wealth Management business, the SEI Private Trust Company, and SEI Trust Company. Most recently, he was Global Head of Operations for SEI's Investment Managers business. He has extensive expertise in new business development, client relationship management, global operations, and solution and product development.
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Key Risks to SEI Investments (SEIC)
- Competitive Pressures and Fee Compression: SEI Investments operates in a highly competitive asset management space, facing significant pressure from traditional financial institutions, fintech firms, and technology-driven companies. This intense competition, coupled with investor demand for low-cost solutions and the rise of passive investment strategies, leads to fee compression across the industry. This trend can adversely affect SEIC's margins and overall profitability if the company is unable to consistently demonstrate value or match competitive pricing.
- Market Volatility and Economic Uncertainty: A substantial portion of SEI Investments' revenue and profitability is tied to the performance of capital markets, particularly through its asset management and administration fees. Market downturns, economic instability, or significant market dislocations can lead to a decrease in assets under management (AUM), directly impacting fee income. Sustained periods of market volatility may also hinder SEIC's ability to attract new clients or retain existing ones.
- Client and Relationship Risks, including Client Consolidation: SEIC's business model relies heavily on maintaining strong client relationships. The loss of one or more large clients could disproportionately impact the company's financial results due to the significant volume of assets they represent. Furthermore, the financial services industry is experiencing consolidation among SEI's client base, which includes financial institutions and investment managers. This consolidation can shrink the pool of potential clients and poses a risk that smaller firms might transition away from SEIC's platform if acquired by larger entities.
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The increasing adoption of Distributed Ledger Technology (DLT) and blockchain for asset tokenization, trade settlement, and record-keeping within the financial services industry. If these technologies mature and become widely adopted as the new standard for financial infrastructure, they could automate many functions currently performed by SEI's asset administration and investment processing outsourcing businesses, potentially disintermediating their role or significantly reducing the value of their services.
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SEI Investments (NASDAQ: SEIC) operates in several large addressable markets globally, including wealth management, asset management, retirement solutions, and investment processing/administration outsourcing.
The addressable markets for SEI Investments' main products and services are as follows:
- Wealth Management: The global wealth management market was valued at approximately USD 1.83 trillion in 2024 and is projected to grow to USD 5.95 trillion by 2033.
- Asset Management: The global asset management industry, in terms of assets under management (AuM), reached a record-breaking $128 trillion in 2024. This figure is projected to surge from US $139 trillion in 2024 to $200 trillion by 2030. Separately, the global asset management market size (revenue) was valued at USD 469 billion in 2024 and is projected to grow to USD 6 trillion by 2034.
- Retirement Solutions/Pension Funds: Global retirement assets reached $58.5 trillion in 2024. More specifically, the global pension funds market size was valued at USD 71.35 trillion in 2024 and is poised to grow to USD 115.52 trillion by 2033. The global retirement planning market was accounted for $127.8 billion in 2025 and is expected to reach $198.6 billion by 2032.
- Investment Processing Outsourcing/Asset Administration (Business Process Outsourcing and Asset Servicing): The global outsourcing services market size was estimated at USD 3.8 trillion in 2024 and is projected to reach USD 7.11 trillion by 2030. The asset servicing market size grew from $1.43 trillion in 2025 to $1.53 trillion in 2026. The global business process outsourcing (BPO) market size was valued at USD 347.95 billion in 2025 and is anticipated to reach around USD 906.27 billion by 2035.
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SEI Investments (NASDAQ: SEIC) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives and market expansion:
- Strategic Acquisitions and Partnerships: SEI is actively pursuing strategic acquisitions and partnerships to enhance its capabilities and market reach. Notable examples include the acquisition of a 57.5% stake in Stratos Wealth Holdings to bolster advisor support and the acquisition of LifeYield to enhance tax-smart investing capabilities. Additionally, the acquisition of Altigo aims to expand opportunities in alternative investments through a SaaS model.
- Expansion and Sales in Technology and Investment Processing Services: The company anticipates continued revenue growth from its technology and investment processing businesses. This includes significant sales and implementation activity within private banking and investment managers segments, which are expected to generate recurring revenue.
- Increased Penetration in Advisor and Institutional Markets: SEI is focused on expanding its presence in key client segments. This involves increasing penetration into the Registered Investment Advisor (RIA) space and driving global expansion within its investment managers business. The company has achieved record net sales events in these areas, indicating strong market engagement.
- Development and Adoption of Alternative Investment Products: Investing in alternative investment products is a key driver for future growth. SEI is actively expanding its offerings and capabilities in alternatives, evidenced by the acquisition of Altigo to support this growth area.
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Capital Allocation Decisions for SEI Investments (SEIC)
Share Repurchases
- SEI Investments demonstrated a consistent share repurchase program, with annual share buybacks totaling $628.135 million in 2025, $500.061 million in 2024, and $308.854 million in 2023.
- In October 2025, the Board of Directors approved a $650 million increase to the stock repurchase program, raising the total available authorization to approximately $773.2 million, which included $123.2 million remaining from previous authorizations as of October 20, 2025.
- The company plans to continue its aggressive share buyback program, aiming to return up to 100% of its free cash flow to shareholders.
Share Issuance
- SEI Investments has not shown significant share issuances in the last 3-5 years. Instead, the number of outstanding shares has consistently declined due to active share repurchase programs.
- Shares outstanding for SEI Investments decreased from 0.134 billion in 2023 to 0.127 billion in 2025, reflecting a 3.53% decline from 2024 to 2025.
Inbound Investments
- No significant inbound investments by third-parties such as strategic partners or private equity firms into SEI Investments were identified within the last 3-5 years.
Outbound Investments
- In July 2025, SEI made a strategic investment in Stratos Wealth Holdings, a network of financial advisors, for approximately $527 million. The first stage of this investment was completed in December 2025, with SEI paying approximately $544 million for a 57.5% equity stake in the newly formed SEI-Eclipse Holding Company.
- In December 2024, SEI acquired LifeYield to enhance its multi-account tax management capabilities.
- SEI agreed to divest its Family Office Services business to Aquiline Capital Partners LP for $120 million, with the transaction expected to close in late Q2 2025.
Capital Expenditures
- Capital expenditures for SEI Investments were $21.1 million in the first nine months of 2025, compared to $27.2 million in the first nine months of 2024.
- These expenditures in 2024 and 2025 primarily focused on capital outlays for purchased software and equipment for data center operations.
- The company also capitalized $22.8 million in software development costs in the first nine months of 2025, with significant portions allocated to enhancing the SEI Wealth Platform and developing SEI Scope, a new platform for the Investment Managers segment.
Peer Outperformance in Asset Management & Custody Banks
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| SEIC | SEI Investments | 9.1% | 17.4x | 21.1% | 82.6% | 81.4% | — |
| BNY | Bank of New York Mellon | 7.7% | 15.8x | 38.8% | 275.2% | 206.0% | +125pp |
| STT | State Street | 7.2% | 14.1x | 54.8% | 199.6% | 132.0% | +51pp |
| FHI | Federated Hermes | 7.3% | 9.8x | 11.3% | 89.0% | 105.0% | +24pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 15.9% | 64.6% | 115.6% | SPNT 160% · RNR 142% · RGA 135% |
| Investment Banking & Brokerage | 13 | -3.8% | 100.8% | 100.0% | IBKR 441% · SNEX 231% · HOOD 168% |
| Diversified Banks | 12 | 28.5% | 131.2% | 96.2% | CM 145% · RY 131% · JPM 122% |
| Life & Health Insurance | 20 | 6.1% | 51.5% | 90.5% | JXN 532% · UNM 286% · FG 191% |
| Multi-Sector Holdings | 4 | 3.8% | 52.4% | 74.5% | JONE 361% · BRK-B 81% · VOYA 68% |
| Property & Casualty Insurance | 42 | 3.1% | 71.0% | 60.8% | ASIC 2616900% · HRTG 408% · UVE 305% |
| Multi-line Insurance | 9 | 4.5% | 70.2% | 53.8% | GNW 135% · L 92% · AIZ 82% |
| Regional Banks | 264 | 26.4% | 92.0% | 52.2% | GCBC 319% · ESQ 310% · PBAM 251% |
| Financial Exchanges & Data | 15 | -2.9% | 15.3% | 30.0% | VIRT 182% · CBOE 140% · CME 64% |
| Diversified Financial Services | 4 | -8.4% | 23.4% | 19.4% | FRHC 175% · EQH 95% · TMS -56% |
| Consumer Finance | 30 | -0.7% | 86.0% | 17.9% | ENVA 388% · EZPW 296% · FCFS 159% |
| Insurance Brokers | 16 | -25.2% | -10.1% | 11.7% | LIFE 300% · ARX 88% · CRD-A 62% |
| Asset Management & Custody Banks ← | 83 | -8.0% | 20.3% | 11.4% | WT 356% · VCTR 285% · AAMI 265% |
| Commercial & Residential Mortgage Finance | 14 | -53.1% | 25.2% | 1.0% | FNMA 460% · FMCC 422% · ACT 172% |
| Specialized Finance | 3 | 8.6% | 37.5% | -13.7% | EFC 16% · HASI -14% · CACC -14% |
| Mortgage REITs | 33 | -18.7% | 4.8% | -29.8% | NREF 54% · RITM 33% · DX 22% |
| Transaction & Payment Processing Services | 17 | -4.3% | -7.1% | -45.0% | V 67% · MA 66% · CPAY 51% |
| Diversified Capital Markets | 20 | -36.2% | 14.6% | -58.2% | OPY 180% · LPLA 100% · GOLD 59% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 164.11 |
| Mkt Cap | 25.1 |
| Rev LTM | 8,264 |
| Op Inc LTM | 1,425 |
| FCF LTM | 1,368 |
| FCF 3Y Avg | 1,147 |
| CFO LTM | 1,581 |
| CFO 3Y Avg | 1,342 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.0% |
| Rev Chg 3Y Avg | 8.2% |
| Rev Chg Q | 15.7% |
| QoQ Delta Rev Chg LTM | 3.7% |
| Op Inc Chg LTM | 14.5% |
| Op Inc Chg 3Y Avg | 12.8% |
| Op Mgn LTM | 26.3% |
| Op Mgn 3Y Avg | 24.8% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 20.5% |
| CFO/Rev 3Y Avg | 21.9% |
| FCF/Rev LTM | 15.0% |
| FCF/Rev 3Y Avg | 18.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 25.1 |
| P/S | 3.4 |
| P/Op Inc | 15.6 |
| P/EBIT | 12.9 |
| P/E | 16.7 |
| P/CFO | 15.7 |
| Total Yield | 7.7% |
| Dividend Yield | 2.0% |
| FCF Yield 3Y Avg | 5.1% |
| D/E | 0.3 |
| Net D/E | -0.0 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Investment Managers | 815 | 728 | 645 | 600 | 581 |
| Investment Advisors | 577 | 509 | 436 | 448 | 483 |
| Private Banks | 573 | 541 | 496 | 570 | 494 |
| Institutional Investors | 282 | 286 | 290 | 323 | 344 |
| Investments In New Businesses | 50 | 60 | 52 | 50 | 17 |
| Total | 2,297 | 2,125 | 1,920 | 1,991 | 1,918 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Investment Managers | 321 | 275 | 226 | 218 | 233 |
| Investment Advisors | 266 | 227 | 177 | 196 | 243 |
| Institutional Investors | 134 | 131 | 124 | 151 | 176 |
| Private Banks | 98 | 81 | 48 | 102 | 31 |
| Segment reclassification | 0 | ||||
| Investments In New Businesses | -11 | -14 | -19 | -23 | -36 |
| Corporate overhead expenses | -181 | -148 | -132 | -168 | -92 |
| Total | 627 | 552 | 425 | 476 | 553 |
| $ Mil | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|
| Corporate Overhead | 877 | 909 | 810 | 775 | 731 |
| Private Banks | 558 | 568 | 558 | 523 | 471 |
| Investment Managers | 421 | 374 | 318 | 279 | 159 |
| Investment Advisors | 169 | 166 | 143 | 140 | 161 |
| Institutional Investors | 120 | 115 | 109 | 117 | 110 |
| Investments In New Businesses | 22 | 20 | 33 | 19 | 5 |
| Total | 2,167 | 2,151 | 1,972 | 1,853 | 1,637 |
Price Behavior
| Market Price | $102.43 | |
| Market Cap ($ Bil) | 12.3 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -8.2% | |
| 50 Days | 200 Days | |
| DMA Price | $106.09 | $90.68 |
| DMA Trend | up | up |
| Distance from DMA | -3.4% | 13.0% |
| 3M | 1YR | |
| Volatility | 18.3% | 23.3% |
| Downside Capture | 57.69 | 48.46 |
| Upside Capture | 106.74 | 62.22 |
| Correlation (SPY) | 31.4% | 31.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.78 | 0.62 | 0.54 | 0.26 | 0.56 | 0.88 |
| Up Beta | 0.32 | 0.22 | -0.37 | 0.37 | 0.38 | 0.92 |
| Down Beta | -0.27 | -0.18 | 0.63 | 0.34 | 0.77 | 0.95 |
| Up Capture | 56% | 76% | 115% | 42% | 52% | 60% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 23 | 38 | 67 | 131 | 394 |
| Down Capture | 175% | 97% | 33% | -21% | 56% | 93% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 14 | 19 | 26 | 59 | 121 | 353 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEIC | |
|---|---|---|---|---|
| SEIC | 23.4% | 23.1% | 0.83 | - |
| Sector ETF (XLF) | 1.4% | 14.8% | -0.13 | 62.6% |
| Equity (SPY) | 16.2% | 13.0% | 0.88 | 31.2% |
| Gold (GLD) | 6.8% | 29.6% | 0.22 | 1.2% |
| Commodities (DBC) | 44.9% | 20.8% | 1.67 | -4.5% |
| Real Estate (VNQ) | 1.5% | 13.6% | -0.15 | 29.1% |
| Bitcoin (BTCUSD) | -28.9% | 44.3% | -0.64 | 22.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEIC | |
|---|---|---|---|---|
| SEIC | 12.6% | 22.4% | 0.47 | - |
| Sector ETF (XLF) | 8.7% | 18.3% | 0.34 | 74.7% |
| Equity (SPY) | 13.1% | 17.2% | 0.58 | 67.6% |
| Gold (GLD) | 18.4% | 18.9% | 0.79 | 6.9% |
| Commodities (DBC) | 10.3% | 19.6% | 0.41 | 9.7% |
| Real Estate (VNQ) | 0.7% | 18.8% | -0.07 | 55.4% |
| Bitcoin (BTCUSD) | 14.6% | 52.2% | 0.45 | 27.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEIC | |
|---|---|---|---|---|
| SEIC | 9.5% | 25.4% | 0.37 | - |
| Sector ETF (XLF) | 12.6% | 22.1% | 0.52 | 76.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 71.4% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 2.0% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 20.3% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 56.5% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 16.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -2.0% | 4.2% | 9.0% |
| 4/22/2026 | 7.4% | 7.2% | 5.7% |
| 1/28/2026 | 2.3% | -0.2% | -5.6% |
| 10/22/2025 | 0.1% | -1.0% | -3.2% |
| 7/23/2025 | -0.2% | -1.6% | -2.0% |
| 4/23/2025 | 7.8% | 7.2% | 15.7% |
| 1/29/2025 | 3.7% | 4.0% | -3.5% |
| 10/23/2024 | 5.2% | 7.9% | 13.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 12 |
| # Negative | 13 | 13 | 11 |
| Median Positive | 4.3% | 4.2% | 6.9% |
| Median Negative | -2.1% | -1.3% | -3.5% |
| Max Positive | 7.8% | 9.5% | 26.7% |
| Max Negative | -11.0% | -3.9% | -6.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -2.0% | 4.2% | 9.0% |
| 4/22/2026 | 7.4% | 7.2% | 5.7% |
| 1/28/2026 | 2.3% | -0.2% | -5.6% |
| 10/22/2025 | 0.1% | -1.0% | -3.2% |
| 7/23/2025 | -0.2% | -1.6% | -2.0% |
| 4/23/2025 | 7.8% | 7.2% | 15.7% |
| 1/29/2025 | 3.7% | 4.0% | -3.5% |
| 10/23/2024 | 5.2% | 7.9% | 13.4% |
| 7/24/2024 | -0.3% | 2.4% | 1.2% |
| 4/24/2024 | -0.2% | -0.6% | 1.7% |
| 1/31/2024 | 4.9% | 4.3% | 7.3% |
| 10/25/2023 | -2.8% | -0.4% | 6.6% |
| 7/26/2023 | -2.1% | -2.8% | -4.7% |
| 4/20/2023 | -0.4% | -1.0% | -1.3% |
| 1/25/2023 | -1.8% | 1.0% | -5.2% |
| 10/26/2022 | 6.6% | 9.5% | 26.7% |
| 7/20/2022 | 1.0% | -0.9% | 7.7% |
| 4/20/2022 | -3.7% | -3.9% | -6.9% |
| 1/26/2022 | -2.9% | 3.6% | 2.3% |
| 10/20/2021 | 0.8% | -1.3% | 2.1% |
| 7/21/2021 | -3.8% | -3.4% | -3.6% |
| 4/21/2021 | -11.0% | -3.3% | -0.4% |
| 1/28/2021 | -4.4% | -1.8% | -0.6% |
| SUMMARY STATS | |||
| # Positive | 10 | 10 | 12 |
| # Negative | 13 | 13 | 11 |
| Median Positive | 4.3% | 4.2% | 6.9% |
| Median Negative | -2.1% | -1.3% | -3.5% |
| Max Positive | 7.8% | 9.5% | 26.7% |
| Max Negative | -11.0% | -3.9% | -6.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/27/2026 | 10-Q |
| 03/31/2026 | 04/27/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/27/2025 | 10-Q |
| 06/30/2025 | 07/28/2025 | 10-Q |
| 03/31/2025 | 04/28/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/29/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/24/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/27/2026 | 10-Q |
| 03/31/2026 | 04/27/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/27/2025 | 10-Q |
| 06/30/2025 | 07/28/2025 | 10-Q |
| 03/31/2025 | 04/28/2025 | 10-Q |
| 12/31/2024 | 02/20/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 04/29/2024 | 10-Q |
| 12/31/2023 | 02/20/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/24/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 10/28/2022 | 10-Q |
| 06/30/2022 | 07/25/2022 | 10-Q |
| 03/31/2022 | 04/25/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 10/25/2021 | 10-Q |
| 06/30/2021 | 07/26/2021 | 10-Q |
| 03/31/2021 | 04/26/2021 | 10-Q |
| 12/31/2020 | 02/22/2021 | 10-K |
| 09/30/2020 | 10/26/2020 | 10-Q |
| 06/30/2020 | 07/28/2020 | 10-Q |
| 03/31/2020 | 04/28/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 10/24/2019 | 10-Q |
Insider Activity
Updated 10/1/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | West, Alfred P JR | Direct | Sell | 10012026 | 103.16 | 5,483 | 565,637 | 699,910,223 | Form | |
| 2 | West, Alfred P JR | Direct | Sell | 10012026 | 103.40 | 28,394 | 2,936,025 | 702,112,264 | Form | |
| 3 | Lane, Michael | Executive Vice President | Direct | Sell | 9242026 | 102.78 | 2,400 | 246,672 | 4,068,135 | Form |
| 4 | Hicke, Ryan | Chief Executive Officer | Direct | Sell | 9082026 | 110.71 | 37,500 | 4,151,662 | 21,346,716 | Form |
| 5 | Romeo, Carmen | Direct | Sell | 9032026 | 109.70 | 5,000 | 548,500 | 171,164,142 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | West, Alfred P JR | Direct | Sell | 10012026 | 103.16 | 5,483 | 565,637 | 699,910,223 | Form | |
| 2 | West, Alfred P JR | Direct | Sell | 10012026 | 103.40 | 28,394 | 2,936,025 | 702,112,264 | Form | |
| 3 | Lane, Michael | Executive Vice President | Direct | Sell | 9242026 | 102.78 | 2,400 | 246,672 | 4,068,135 | Form |
| 4 | Hicke, Ryan | Chief Executive Officer | Direct | Sell | 9082026 | 110.71 | 37,500 | 4,151,662 | 21,346,716 | Form |
| 5 | Romeo, Carmen | Direct | Sell | 9032026 | 109.70 | 5,000 | 548,500 | 171,164,142 | Form | |
| 6 | Peterson, Michael | Executive Vice President | Direct | Sell | 9012026 | 111.51 | 37,500 | 4,181,625 | 2,246,703 | Form |
| 7 | McCabe, Philip | See Remarks | Direct | Sell | 8062026 | 105.50 | 5,043 | 532,036 | 5,790,309 | Form |
| 8 | McCabe, Philip | See Remarks | Direct | Sell | 8062026 | 105.04 | 24,957 | 2,621,433 | 5,764,953 | Form |
| 9 | McCarthy, Kathryn | Direct | Sell | 8042026 | 103.53 | 10,000 | 1,035,350 | 8,063,616 | Form | |
| 10 | Warner, Mark Andrew | See Remarks* | Direct | Sell | 7302026 | 102.35 | 15,000 | 1,535,193 | 94,261 | Form |
| 11 | Peterson, Michael | Executive Vice President | Direct | Sell | 7302026 | 102.05 | 25,000 | 2,551,250 | 2,056,103 | Form |
| 12 | Guarino, Carl | Direct | Sell | 7302026 | 103.19 | 10,000 | 1,031,950 | 1,889,294 | Form | |
| 13 | Sharma, Sanjay | See Remarks* | Direct | Sell | 7282026 | 99.33 | 20,000 | 1,986,588 | 3,956,190 | Form |
| 14 | West, Alfred P JR | Direct | Sell | 6292026 | 87.39 | 7,332 | 640,733 | 595,854,278 | Form | |
| 15 | West, Alfred P JR | Direct | Sell | 6292026 | 87.25 | 50,000 | 4,362,265 | 595,517,551 | Form | |
| 16 | Doran, William | Direct | Sell | 6112026 | 90.50 | 5,000 | 452,500 | 56,001,581 | Form | |
| 17 | McCarthy, Kathryn | Direct | Sell | 5052026 | 91.07 | 10,000 | 910,700 | 7,092,805 | Form | |
| 18 | Warner, Mark Andrew | In Remarks | Direct | Sell | 4302026 | 91.16 | 4,000 | 364,640 | 83,958 | Form |
| 19 | McCabe, Philip | See Remarks | Direct | Sell | 4242026 | 91.82 | 15,000 | 1,377,300 | 5,039,490 | Form |
| 20 | Sharma, Sanjay | See Remarks* | Direct | Sell | 4232026 | 90.12 | 25,000 | 2,253,013 | 3,589,410 | Form |
| 21 | Peterson, Michael | EXECUTIVE VICE PRESIDENT | Direct | Sell | 4232026 | 90.00 | 10,000 | 900,000 | 1,813,320 | Form |
| 22 | West, Alfred P JR | Direct | Sell | 3122026 | 79.26 | 7,447 | 590,270 | 544,993,839 | Form | |
| 23 | West, Alfred P JR | Direct | Sell | 3122026 | 80.23 | 55,000 | 4,412,871 | 552,269,261 | Form | |
| 24 | Warner, Mark Andrew | Direct | Sell | 2262026 | 81.74 | 4,000 | 326,960 | 75,283 | Form | |
| 25 | Hicke, Ryan | CHIEF EXECUTIVE OFFICER | Direct | Sell | 2022026 | 87.36 | 80,000 | 6,989,060 | 17,224,869 | Form |
| 26 | Doran, William | Direct | Sell | 12232025 | 83.85 | 7,000 | 586,950 | 52,305,798 | Form | |
| 27 | McCabe, Philip | See Remarks | Direct | Sell | 12082025 | 81.11 | 12,000 | 973,320 | 5,072,980 | Form |
| 28 | West, Alfred P JR | Executive Chairman | Direct | Sell | 12052025 | 80.87 | 24,770 | 2,003,150 | 561,465,206 | Form |
| 29 | Peterson, Michael | EXECUTIVE VICE PRESIDENT | Direct | Sell | 11132025 | 84.21 | 25,000 | 2,105,250 | 1,136,835 | Form |
| 30 | Romeo, Carmen | Direct | Sell | 11122025 | 84.01 | 5,000 | 420,050 | 132,192,003 | Form |
Investor Activity (13F)
Updated Oct 5, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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