Polar Asset Management Partners Inc. Purchases New Holdings in SEI Investments Company $SEIC

Polar Asset Management Partners Inc. acquired a new position in SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 44,075 shares of the asset manager’s stock, valued at approximately $3,866,000.

Several other large investors also recently bought and sold shares of SEIC. BlackRock Inc. acquired a new position in shares of SEI Investments during the second quarter valued at approximately $870,745,000. Bank of America Corp DE boosted its stake in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after acquiring an additional 133,057 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SEI Investments by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after purchasing an additional 308,988 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock valued at $146,984,000 after purchasing an additional 20,054 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SEIC. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Raymond James Financial increased their target price on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Piper Sandler raised their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.60.

SEI Investments Trading Up 0.2%

NASDAQ SEIC opened at $110.98 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The stock has a market capitalization of $13.32 billion, a P/E ratio of 19.57 and a beta of 0.96. The firm’s 50-day moving average is $98.82 and its two-hundred day moving average is $89.14. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $111.90.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. On average, sell-side analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

Insider Transactions at SEI Investments

In other news, insider Philip Mccabe sold 5,043 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.50, for a total transaction of $532,036.50. Following the completion of the transaction, the insider directly owned 54,884 shares in the company, valued at $5,790,262. This trade represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 142,332 shares of company stock worth $13,745,813 in the last three months. Company insiders own 4.80% of the company’s stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.