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

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

Silvercrest Asset Management Group Price Performance

Shares of SAMG stock opened at $15.43 on Friday. The stock’s fifty day simple moving average is $17.60 and its 200 day simple moving average is $17.68. Silvercrest Asset Management Group has a one year low of $13.93 and a one year high of $19.20. The firm has a market cap of $210.37 million, a price-to-earnings ratio of 19.29 and a beta of 0.80.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued 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 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 announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend was Friday, March 14th. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Silvercrest Asset Management Group by 4.9% in the third 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 in the last quarter. Barclays PLC raised its holdings in shares of Silvercrest Asset Management Group by 48.8% in the third quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock valued at $531,000 after buying an additional 10,110 shares during the last quarter. Jane Street Group LLC lifted its position in Silvercrest Asset Management Group by 55.6% during the 3rd 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. grew its holdings in 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position 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 acquiring an additional 1,781 shares in the last quarter. 47.59% of the stock is 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.