SEI Investments
SEIC on Nasdaq. SEI Investments Company sells financial software and investment services to banks and money managers. Market value $12.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Financial services stocks on the list
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 27 cents. Above 10 is good.
What you pay for each dollar of net assets: $4.94.
Profit per $100 you pay: $5.73.
Quality score: 100 of 100. Price score: 35 of 100. Our list needs 70 on quality and 60 on price.
$102.86 a share, 37% above its 1-year low
Over the past year the price has ranged from $75.08 to $112.15.
Dividend: 1.0% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.9bn | $2.0bn | $1.9bn | $2.1bn | $2.3bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.13bn | 0.13bn | 0.13bn | 0.12bn | 0.12bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsSlow, 6.4% a year
- Buying back its own sharesYes, 11% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $642 million last quarter, up 15% on a year ago.
- Profit: $196 million, down 14% on a year ago.
- Spare cash over the past 12 months: $660 million, up from $588 million.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $537m |
| December 2024 | $557m |
| March 2025 | $551m |
| June 2025 | $560m |
| September 2025 | $579m |
| December 2025 | $608m |
| March 2026 | $622m |
| June 2026 | $642m |
| Quarter to | Amount |
|---|---|
| September 2024 | $155m |
| December 2024 | $156m |
| March 2025 | $152m |
| June 2025 | $227m |
| September 2025 | $164m |
| December 2025 | $173m |
| March 2026 | $174m |
| June 2026 | $196m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 23 February 2026
- Next quarterly (estimated, 10-Q)
- 26 October 2026
Who owns it
8 long-term investors we follow own it, down from 9 last quarter. 572 funds in all.
- Markel GroupTom Gayner
- Value
- $15m
- Share of fund
- 0.1%
- Gotham Asset ManagementJoel Greenblatt
- Value
- $1m
- Share of fund
- <0.1%
- Kahn BrothersThomas Kahn
- Value
- $578,535
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Boston PartnersBoston Partners team | $271m | 0.2% | Added |
| Beutel GoodmanBeutel Goodman team | $131m | 1.0% | Cut |
| Royce & AssociatesChuck Royce | $92m | 0.7% | Added |
| Markel GroupTom Gayner | $15m | 0.1% | |
| SouthernSun Asset ManagementMichael Cook | $6m | 0.8% | Cut |
| Brandes Investment PartnersCharles Brandes | $4m | <0.1% | Added |
| Gotham Asset ManagementJoel Greenblatt | $1m | <0.1% | |
| Kahn BrothersThomas Kahn | $578,535 | <0.1% |
Sold out this quarter
- Mairs & PowerAndy AdamsSold out
Largest holders overall
- BlackRock$871m
- Loomis Sayles & CO L P$744m
- Vanguard Portfolio Management$539m
- Vanguard Capital Management$411m
- State Street$373m
- Morgan Stanley$361mCut
- Boston Partners$271mAdded
- Geode Capital Management$259mAdded
- Bank of America$255m
- FMR$220mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Loomis, Sayles & Co., L.P.Passive investor7.0%−0.1 ptsSince 30 June 2026
- BlackRock, Inc.Passive investor6.8%Since 30 June 2025
- Vanguard Portfolio ManagementPassive investor5.0%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Loomis, Sayles & Co., L.P. Passive investor | 7.0%−0.1 pts | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.8% | 30 June 2025 | |
Vanguard Portfolio Management Passive investor | 5.0% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 11 sold $40m.
- LANE MICHAELExecutive Vice PresidentSold
- Date
- 22 September 2026
- Shares
- 2,400
- Price
- $102.78
- Value
- $246,672
- Hicke RyanChief Executive OfficerSold
- Date
- 3 September 2026
- Shares
- 37,500
- Price
- $110.71
- Value
- $4m
- ROMEO CARMENDirectorSold
- Date
- 1 September 2026
- Shares
- 5,000
- Price
- $109.70
- Value
- $548,500
- Peterson MichaelExecutive Vice PresidentSold
- Date
- 28 August 2026
- Shares
- 37,500
- Price
- $111.51
- Value
- $4m
- McCabe PhilipSee RemarksSold
- Date
- 5 August 2026
- Shares
- 5,043
- Price
- $105.50
- Value
- $532,037
- McCabe PhilipSee RemarksSold
- Date
- 4 August 2026
- Shares
- 24,957
- Price
- $105.04
- Value
- $3m
- MCCARTHY KATHRYNDirectorSold
- Date
- 3 August 2026
- Shares
- 10,000
- Price
- $103.53
- Value
- $1m
- Warner Mark AndrewSee Remarks*Sold
- Date
- 28 July 2026
- Shares
- 15,000
- Price
- $102.35
- Value
- $2m
- Peterson MichaelExecutive Vice PresidentSold
- Date
- 28 July 2026
- Shares
- 25,000
- Price
- $102.05
- Value
- $3m
- GUARINO CARLDirectorSold
- Date
- 28 July 2026
- Shares
- 10,000
- Price
- $103.19
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 22 September 2026 | LANE MICHAEL Executive Vice President | Sold | 2,400 | $102.78 | $246,672 |
| 3 September 2026 | Hicke Ryan Chief Executive Officer | Sold | 37,500 | $110.71 | $4m |
| 1 September 2026 | ROMEO CARMEN Director | Sold | 5,000 | $109.70 | $548,500 |
| 28 August 2026 | Peterson Michael Executive Vice President | Sold | 37,500 | $111.51 | $4m |
| 5 August 2026 | McCabe Philip See Remarks | Sold | 5,043 | $105.50 | $532,037 |
| 4 August 2026 | McCabe Philip See Remarks | Sold | 24,957 | $105.04 | $3m |
| 3 August 2026 | MCCARTHY KATHRYN Director | Sold | 10,000 | $103.53 | $1m |
| 28 July 2026 | Warner Mark Andrew See Remarks* | Sold | 15,000 | $102.35 | $2m |
| 28 July 2026 | Peterson Michael Executive Vice President | Sold | 25,000 | $102.05 | $3m |
| 28 July 2026 | GUARINO CARL Director | Sold | 10,000 | $103.19 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.