StockNews.com Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to “Strong-Buy”

StockNews.com upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a buy rating to a strong-buy rating in a research report released on Friday.

Silvercrest Asset Management Group Trading Down 0.2 %

Shares of SAMG opened at $16.47 on Friday. The firm has a fifty day moving average price of $17.78 and a 200-day moving average price of $17.68. The firm has a market capitalization of $224.55 million, a P/E ratio of 20.59 and a beta of 0.84. Silvercrest Asset Management Group has a 12-month low of $13.93 and a 12-month high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%.

Silvercrest Asset Management Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 4.86%. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of Silvercrest Asset Management Group by 4.9% in the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after acquiring an additional 10,477 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Silvercrest Asset Management Group by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock valued at $3,839,000 after purchasing an additional 2,175 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Silvercrest Asset Management Group by 1.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock valued at $2,312,000 after purchasing an additional 1,781 shares in the last quarter. Northern Trust Corp lifted its position in shares of Silvercrest Asset Management Group by 5.1% in the 4th quarter. Northern Trust Corp now owns 77,304 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 3,751 shares during the period. Finally, Cary Street Partners Financial LLC bought a new position in shares of Silvercrest Asset Management Group during the fourth quarter valued at approximately $1,197,000. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.