Nuveen LLC Buys Shares of 20,232 Silvercrest Asset Management Group Inc. $SAMG

Nuveen LLC bought a new stake in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) during the first quarter, HoldingsChannel reports. The fund bought 20,232 shares of the asset manager’s stock, valued at approximately $331,000.

A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in Silvercrest Asset Management Group by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager’s stock valued at $404,000 after buying an additional 775 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Silvercrest Asset Management Group by 7.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager’s stock worth $289,000 after purchasing an additional 1,211 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after purchasing an additional 1,236 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Silvercrest Asset Management Group by 1.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 127,009 shares of the asset manager’s stock worth $2,078,000 after purchasing an additional 1,314 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Silvercrest Asset Management Group by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock worth $3,839,000 after purchasing an additional 2,175 shares during the period. Institutional investors and hedge funds own 47.59% of the company’s stock.

Silvercrest Asset Management Group Trading Down 1.7%

Shares of SAMG opened at $15.82 on Friday. The firm has a market capitalization of $198.86 million, a P/E ratio of 17.98 and a beta of 0.81. The stock’s fifty day simple moving average is $16.40 and its 200 day simple moving average is $15.97. Silvercrest Asset Management Group Inc. has a twelve month low of $13.54 and a twelve month high of $19.20.

Silvercrest Asset Management Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.3%. This is a boost from Silvercrest Asset Management Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 12th. Silvercrest Asset Management Group’s dividend payout ratio is 90.91%.

Analysts Set New Price Targets

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

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.