SEI Increases Stock Share Repurchase Program by $250 Million

Rhea-AI Summary

On April 18, 2023, SEI Investments Company announced an increase in its stock repurchase program by an additional $250 million, raising the total authorization to approximately $263 million. This decision reflects the Board of Directors' confidence in the company's financial health and its commitment to enhancing shareholder value. SEI manages around $1.2 trillion in assets as of December 31, 2022, providing technology and investment solutions across the financial services industry. The increased buyback is expected to positively impact earnings per share (EPS) by reducing the number of outstanding shares.

Positive

• Increase of stock repurchase program by $250 million reflects confidence in financial health.
• Total stock buyback authorization now approximately $263 million, enhancing shareholder value.
• Significant asset management, with SEI managing $1.2 trillion as of Dec. 31, 2022, indicates strong market position.

Negative

• None.

OAKS, Pa., April 18, 2023 /PRNewswire/ -- The Board of Directors of SEI Investments Company approved an increase in its stock repurchase program by an additional $250 million, increasing the available authorization under the program to approximately $263 million.

About SEI^®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of Dec. 31, 2022, SEI manages, advises, or administers approximately $1.2 trillion in assets. For more information, visit seic.com.

Company/Media Contact: 

Leslie Wojcik
SEI
+1 610-676-4191
lwojcik@seic.com     

 

View original content:https://www.prnewswire.com/news-releases/sei-increases-stock-share-repurchase-program-by-250-million-301800839.html

SOURCE SEI Investments Company

FAQ

What is the total amount of SEIC's stock repurchase program as of April 2023?

As of April 2023, SEIC's stock repurchase program totals approximately $263 million.

What was the increase in SEIC's stock repurchase program on April 18, 2023?

On April 18, 2023, SEIC increased its stock repurchase program by $250 million.

How does the stock buyback impact SEIC's earnings per share?

The stock buyback is expected to positively impact SEIC's earnings per share (EPS) by reducing the number of outstanding shares.

What does SEI Investments Company do?

SEI Investments Company delivers technology and investment solutions to the financial services industry, managing $1.2 trillion in assets.