Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Position Raised by Bank of America Corp DE

Bank of America Corp DE raised its stake in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 12.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,825 shares of the asset manager’s stock after buying an additional 3,185 shares during the quarter. Bank of America Corp DE’s holdings in Silvercrest Asset Management Group were worth $548,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of 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 valued at $103,000 after purchasing an additional 1,236 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Silvercrest Asset Management Group by 12.2% during the fourth 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 during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Silvercrest Asset Management Group by 72.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 8,313 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Silvercrest Asset Management Group by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after purchasing an additional 1,000 shares during the period. Finally, Martingale Asset Management L P increased its holdings in shares of Silvercrest Asset Management Group by 12.1% during the fourth quarter. Martingale Asset Management L P now owns 25,154 shares of the asset manager’s stock valued at $463,000 after purchasing an additional 2,707 shares during the period. 47.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Silvercrest Asset Management Group from a “strong-buy” rating to a “buy” rating in a report on Monday, May 12th.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG opened at $15.12 on Wednesday. The firm has a market capitalization of $202.76 million, a price-to-earnings ratio of 18.90 and a beta of 0.78. Silvercrest Asset Management Group Inc. has a one year low of $13.54 and a one year high of $19.20. The stock’s fifty day moving average is $14.96 and its 200-day moving average is $16.87.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its quarterly earnings results on Thursday, May 8th. The asset manager reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The business had revenue of $31.39 million for the quarter, compared to analyst estimates of $33.21 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 announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Friday, June 13th. Silvercrest Asset Management Group’s payout ratio is currently 84.21%.

Silvercrest Asset Management Group 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.