OAKS, Pa., March 18, 2020 /PRNewswire/ -- The Board of
Directors of SEI Investments Company (NASDAQ: SEIC) today announced
an increase in its stock repurchase program by an additional
$250 million, increasing the
available authorization under the program to approximately
$272 million. Since the beginning of
calendar year 2020, the Company repurchased approximately 1.677
million shares at a cost of approximately $96 million.
"Today, the world is coping with a pandemic, posing challenges
for companies and our way of life. Protecting the health and
well-being of our employees, their families, and clients is our
priority," said Alfred P. West, Jr.,
SEI Chairman and CEO. "We believe we are well-prepared to manage
through this period of disruption and uncertainty. While the SEI
team is currently in a work-from-home environment for all but
essential operations personnel, our operational integrity remains
strong globally. Our innovative workforce, strong cash flow and
resilient operations will help us navigate these turbulent times
and continue to deliver for our clients."
About SEI
After 50 years in business, SEI (NASDAQ:
SEIC) remains a leading global provider of investment processing,
investment management, and investment operations solutions that
help corporations, financial institutions, financial advisors, and
ultra-high-net-worth families create and manage wealth. As of
Dec. 31, 2019, through its
subsidiaries and partnerships in which the company has a
significant interest, SEI manages, advises or administers
$1 trillion in hedge, private equity,
mutual fund and pooled or separately managed assets, including
$352 billion in assets under
management and $683 billion in client
assets under administration. For more information, visit
seic.com.
Investor
Contact:
|
Media
Contact:
|
Lindsey
Opsahl
|
Leslie
Wojcik
|
SEI
|
SEI
|
+1
610-676-4052
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+1
610-676-4191
|
lopsahl@seic.com
|
lwojcik@seic.com
|
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SOURCE SEI Investments Company