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

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

Silvercrest Asset Management Group Price Performance

NASDAQ:SAMG opened at $15.01 on Friday. The firm has a market cap of $204.65 million, a price-to-earnings ratio of 18.76 and a beta of 0.80. The firm’s fifty day moving average price is $17.13 and its 200 day moving average price is $17.60. Silvercrest Asset Management Group has a 1-year low of $13.93 and a 1-year high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued 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

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN grew its position in Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after buying an additional 1,236 shares during the period. R Squared Ltd acquired a new stake in shares of Silvercrest Asset Management Group in the 4th quarter worth approximately $122,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 valued at $302,000 after purchasing an additional 1,781 shares in the last quarter. Jane Street Group LLC increased its stake in 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 valued at $345,000 after purchasing an additional 7,155 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after purchasing an additional 9,209 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.