SEI Investments increases stock buyback by $500 million

SEI Investments announced that its board has approved a $500 million increase to its stock buyback program. This change brings the total money available for stock repurchases to about $556 million. This total includes $56 million that was already part of the existing buyback authorization. After the announcement, SEI's shares dropped by 0.3% in afternoon trading. The buyback program aims to support the company's stock price and provide returns to shareholders.