44,075 Shares in SEI Investments Company $SEIC Acquired by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners acquired 44,075 shares of SEI Investments worth approximately $3.9 million in the second quarter. Institutional investors collectively own 70.59% of the company.
• Analysts maintain a generally positive view, with six Buy ratings and one Hold rating. SEI Investments has a consensus price target of $122.60, above its reported share price of $110.98.
• SEI Investments exceeded quarterly earnings expectations, reporting $1.66 in earnings per share versus the $1.44 consensus and revenue of $641.62 million, up 14.7% year over year. However, insiders sold 142,332 shares worth about $13.7 million over the past quarter.

Polar Asset Management Partners Inc. bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,075 shares of the asset manager's stock, valued at approximately $3,866,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Oxbow Advisors LLC purchased a new position in shares of SEI Investments in the 1st quarter valued at approximately $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in SEI Investments during the 4th quarter worth approximately $3,217,000. Lazard Asset Management LLC increased its stake in SEI Investments by 85.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,037 shares of the asset manager's stock valued at $2,985,000 after purchasing an additional 17,504 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in SEI Investments during the 1st quarter valued at approximately $3,625,000. Finally, King Luther Capital Management Corp raised its holdings in shares of SEI Investments by 10.2% in the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager's stock worth $11,273,000 after buying an additional 12,713 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In related news, insider Philip Mccabe sold 24,957 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $105.04, for a total value of $2,621,483.28. Following the completion of the transaction, the insider owned 54,884 shares of the company's stock, valued at approximately $5,765,015.36. This represents a 31.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 15,000 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the transaction, the insider directly owned 921 shares of the company's stock, valued at $94,264.35. The trade was a 94.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 142,332 shares of company stock worth $13,745,813 over the last quarter. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

SEIC has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of SEI Investments from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. UBS Group reaffirmed a "buy" rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research note on Friday, July 17th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Finally, Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of "Moderate Buy" and a consensus target price of $122.60.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $110.98 on Wednesday. The company has a market capitalization of $13.32 billion, a PE ratio of 19.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company's fifty day moving average price is $98.82 and its 200 day moving average price is $89.14. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $111.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data 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. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. During the same quarter in the previous year, the company earned $1.78 earnings per share. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. On average, research analysts predict that SEI Investments Company will post 6.2 earnings per share for the current year.

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.

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