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

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 Sunday morning.

Silvercrest Asset Management Group Stock Down 2.2 %

Shares of NASDAQ:SAMG opened at $15.01 on Friday. The stock has a market cap of $204.65 million, a P/E ratio of 18.76 and a beta of 0.80. The business has a fifty day moving average of $17.13 and a two-hundred day moving average of $17.60. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The company had revenue of $31.96 million during the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 5.33%. Silvercrest Asset Management Group’s dividend payout ratio is currently 79.21%.

Institutional Trading of Silvercrest Asset Management Group

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

About Silvercrest Asset Management Group

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.