v3.26.3
Shareholders' Equity
 9 Months Ended
Sep. 30, 2026
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Stock-Based Compensation
The Company has non-qualified stock options and restricted stock units (RSUs) outstanding under its equity compensation plans. The Company recognized stock-based compensation expense in its Consolidated Financial Statements in the three and nine months ended September 30, 2026 and 2025, respectively, as follows: 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Stock-based compensation expense$16,000 $13,956 $46,809 $41,985 
Less: Deferred tax benefit(2,596)(2,561)(7,723)(7,737)
Stock-based compensation expense, net of tax$13,404 $11,395 $39,086 $34,248 
As of September 30, 2026, there was approximately $64,142 of unrecognized compensation cost remaining related to unvested employee stock options and restricted stock units that management expects will vest and is being amortized.
The total intrinsic value of options exercised during the nine months ended September 30, 2026 was $87,923. The total options exercisable as of September 30, 2026 had an intrinsic value of $255,110. The total intrinsic value for options exercisable is calculated as the difference between the market value of the Company’s common stock as of September 30, 2026 and the weighted average exercise price of the options. The market value of the Company’s common stock as of September 30, 2026 was $102.66 as reported by the Nasdaq Stock Market, LLC. The weighted average exercise price of the options exercisable as of September 30, 2026 was $59.73. Total options that were outstanding as of September 30, 2026 were 11,154,000. Total options that were exercisable as of September 30, 2026 were 5,942,000.
Earnings per Share
The calculations of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025 are:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Net income$171,247 $164,586 $547,574 $543,186 
Less: Net income attributable to non-controlling interests2,989 382 9,171 382 
Net income attributable to SEI Investments Company$168,258 $164,204 $538,403 $542,804 
Shares used to compute basic earnings per common share118,415,000 123,099,000 120,138,000 124,710,000 
Dilutive effect of stock awards3,597,000 3,226,000 3,142,000 2,974,000 
Shares used to compute diluted earnings per common share122,012,000 126,325,000 123,280,000 127,684,000 
Basic earnings per common share$1.42 $1.33 $4.48 $4.35 
Diluted earnings per common share$1.38 $1.30 $4.37 $4.25 
During the three months ended September 30, 2026 and 2025, employee stock options to purchase 4,368,000 and 5,687,000 shares of common stock with an average exercise price of $75.30 and $66.09, respectively, were outstanding but not included in the computation of diluted earnings per common share. During the nine months ended September 30, 2026 and 2025, employee stock options to purchase 4,396,000 and 5,744,000 shares of common stock with an average exercise price of $75.28 and $66.04, respectively, were outstanding but not included in the computation of diluted earnings per common share. These options for the three and nine month periods were not included in the computation of diluted earnings per common share because either the performance conditions have not been satisfied or would not have been satisfied if the reporting date was the end of the contingency period or the options' exercise price was greater than the average market price of the Company’s common stock and the effect on diluted earnings per common share would have been anti-dilutive.
Common Stock Buyback
The Company’s Board of Directors, under multiple authorizations, has authorized the repurchase of common stock on the open market or through private transactions. The Company purchased 5,890,000 shares at a total cost of $535,752 during the nine months ended September 30, 2026, which reduced the total shares outstanding of common stock. The cost of stock purchases during the period includes the cost of excise taxes applicable to stock repurchases and certain transactions that settled in the following quarter. On October 20, 2026, the Company's Board of Directors approved an
increase in the stock repurchase program by an additional $800,000. As of October 20, 2026, the Company had approximately $925,643 of authorization remaining for the purchase of common stock under the program.
The Company immediately retires its common stock when purchased. Upon retirement, the Company reduces Capital in excess of par value for the average capital per share outstanding and the remainder is charged against Retained earnings. If the Company reduces its Retained earnings to zero, any subsequent purchases of common stock will be charged entirely to Capital in excess of par value.
Cash Dividend
On May 27, 2026, the Board of Directors declared a cash dividend of $0.52 per share on the Company's common stock, which was paid on June 16, 2026, to shareholders of record on June 8, 2026. Cash dividends declared during the nine months ended September 30, 2026 and 2025 were $63,045 and $61,478, respectively.