Silvercrest Asset Management Group (NASDAQ:SAMG) Lowered to Buy Rating by StockNews.com

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

Silvercrest Asset Management Group Price Performance

Shares of NASDAQ:SAMG opened at $15.43 on Friday. The stock has a market capitalization of $210.37 million, a P/E ratio of 19.29 and a beta of 0.80. The business has a 50-day moving average of $17.60 and a two-hundred day moving average of $17.68. Silvercrest Asset Management Group has a fifty-two week low of $13.93 and a fifty-two week high of $19.20.

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

Silvercrest Asset Management Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 5.18%. Silvercrest Asset Management Group’s dividend payout ratio is 79.21%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors and hedge funds have recently bought and sold shares of SAMG. Geode Capital Management LLC grew its position in Silvercrest Asset Management Group by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock worth $3,852,000 after purchasing an additional 10,477 shares during the last quarter. Barclays PLC grew its position in Silvercrest Asset Management Group by 48.8% during the third quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock worth $531,000 after buying an additional 10,110 shares in the last quarter. Jane Street Group LLC grew its position in Silvercrest Asset Management Group by 55.6% during the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after buying an additional 7,155 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Silvercrest Asset Management Group by 80.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after acquiring an additional 9,209 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Silvercrest Asset Management Group by 12.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock worth $302,000 after acquiring an additional 1,781 shares during the period. Institutional investors own 47.59% of the company’s stock.

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.