Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded at StockNews.com

StockNews.com upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

Silvercrest Asset Management Group Stock Down 0.7 %

Shares of NASDAQ SAMG opened at $15.30 on Friday. The stock has a market cap of $208.60 million, a P/E ratio of 19.13 and a beta of 0.80. The firm’s 50-day simple moving average is $17.00 and its 200 day simple moving average is $17.57. Silvercrest Asset Management Group has a fifty-two week low of $13.93 and a fifty-two week high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million. Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%.

Silvercrest Asset Management Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Friday, March 14th. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Silvercrest Asset Management Group by 4.9% during the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after buying an additional 10,477 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Silvercrest Asset Management Group by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock valued at $3,839,000 after acquiring an additional 2,175 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Silvercrest Asset Management Group by 1.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock valued at $2,312,000 after purchasing an additional 1,781 shares in the last quarter. Northern Trust Corp grew its stake in shares of Silvercrest Asset Management Group by 5.1% in the 4th quarter. Northern Trust Corp now owns 77,304 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 3,751 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Silvercrest Asset Management Group in the 4th quarter worth approximately $1,197,000. Institutional investors own 47.59% of the company’s stock.

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.