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

StockNews.com upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a buy rating to a strong-buy rating in a report published on Wednesday.

Silvercrest Asset Management Group Stock Down 1.4 %

NASDAQ:SAMG opened at $17.95 on Wednesday. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $18.77. The firm has a market capitalization of $248.79 million, a P/E ratio of 22.44 and a beta of 0.83. The company has a fifty day moving average of $17.19 and a 200 day moving average of $16.19.

Silvercrest Asset Management Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, December 13th. Silvercrest Asset Management Group’s dividend payout ratio is presently 100.00%.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Long Path Partners LP grew its position in shares of Silvercrest Asset Management Group by 23.8% in the 2nd quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock worth $14,667,000 after buying an additional 180,627 shares during the period. Royce & Associates LP grew its position in Silvercrest Asset Management Group by 6.6% during the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock valued at $10,108,000 after purchasing an additional 36,063 shares during the last quarter. Vanguard Group Inc. grew its position in Silvercrest Asset Management Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 522,136 shares of the asset manager’s stock valued at $8,255,000 after purchasing an additional 4,756 shares during the last quarter. Geode Capital Management LLC grew its position in Silvercrest Asset Management Group by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after purchasing an additional 10,477 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Silvercrest Asset Management Group by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock valued at $2,698,000 after purchasing an additional 17,800 shares during the last quarter. 47.59% of the stock is owned by hedge funds and other institutional investors.

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.