It has been about a month since the last earnings report for SEI Investments (SEIC). Shares have added about 11.2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is SEI due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.

SEI Investments Beats on Q2 Earnings as Revenues & AUM Rise Y/Y

SEI Investments’ second-quarter 2026 adjusted earnings per share of $1.66 surpassed the Zacks Consensus Estimate of $1.45. The bottom line reflected a rise of 38.3% from the prior-year quarter.

Results were aided by higher revenues and a rise in AUM. However, higher expenses acted as a spoilsport.

Results excluded certain non-recurring items. After considering these, net income attributable to SEI Investments was $195.7 million, down 13.8% from the year-ago quarter.

Revenues & AUM Improve, Expenses Rise

Total quarterly revenues were $641.6 million, up 14.7% year over year. The rise was driven by higher asset management, administration and distribution fees, as well as information processing and software servicing fees. The top line beat the Zacks Consensus Estimate of $637.9 million.

Total expenses were $444.6 million, up 8.2% year over year. The increase was due to a rise in almost all cost components, except for consulting, outsourcing and professional fees, facilities, supplies and other costs, and depreciation charges.

Operating income (GAAP) rose 33% year over year to $197 million.

As of June 30, 2026, AUM was $606.7 billion, reflecting a rise of 17.2% from the prior-year quarter. Client assets under administration (AUA) were $1.36 trillion, up 19.7%. Client AUA did not include $14.3 billion related to Funds of Funds assets reported as of June 30, 2026.

Share Repurchase Update

In the reported quarter, the company bought back 1.3 million shares for $112.4 million at an average price of $86.92 per share.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates have trended upward during the past month.

VGM Scores

Currently, SEI has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, SEI has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

SEI is part of the Zacks Financial - Investment Management industry. Over the past month, BlackRock (BLK), a stock from the same industry, has gained 9.9%. The company reported its results for the quarter ended June 2026 more than a month ago.

BlackRock reported revenues of $7.08 billion in the last reported quarter, representing a year-over-year change of +30.6%. EPS of $13.91 for the same period compares with $12.05 a year ago.

For the current quarter, BlackRock is expected to post earnings of $14.24 per share, indicating a change of +23.3% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #2 (Buy) for BlackRock. Also, the stock has a VGM Score of F.

Beyond Nvidia: AI's Second Wave Is Here

The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.

See Stocks Now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

SEI Investments Company (SEIC): Free Stock Analysis Report

 

BlackRock (BLK): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research