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

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Silvercrest Asset Management Group Price Performance

NASDAQ:SAMG opened at $16.50 on Friday. The company has a 50 day moving average price of $17.81 and a 200-day moving average price of $17.67. Silvercrest Asset Management Group has a 1-year low of $13.93 and a 1-year high of $19.20. The firm has a market cap of $224.96 million, a price-to-earnings ratio of 20.63 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share 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 analysts’ expectations of $31.97 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its holdings in shares of Silvercrest Asset Management Group by 28.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new position in Silvercrest Asset Management Group during the fourth quarter worth $122,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,446 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Silvercrest Asset Management Group by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after acquiring an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Silvercrest Asset Management Group by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after acquiring an additional 9,209 shares during the period. 47.59% of the stock is 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.