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 research report report published on Tuesday.

Silvercrest Asset Management Group Stock Down 0.1 %

Shares of NASDAQ SAMG opened at $17.41 on Tuesday. The firm’s 50-day moving average price is $18.22 and its two-hundred day moving average price is $17.57. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $19.20. The stock has a market capitalization of $241.39 million, a P/E ratio of 21.76 and a beta of 0.82.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). The business had revenue of $31.96 million during 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.60%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of hedge funds have recently made changes to their positions in the business. Cary Street Partners Financial LLC bought a new stake in shares of Silvercrest Asset Management Group during the fourth quarter valued at approximately $1,197,000. Bank of America Corp DE increased its stake in shares of Silvercrest Asset Management Group by 12.0% during the fourth quarter. Bank of America Corp DE now owns 29,825 shares of the asset manager’s stock valued at $548,000 after acquiring an additional 3,185 shares during the period. Northern Trust Corp increased its stake in shares of Silvercrest Asset Management Group by 5.1% during the fourth quarter. Northern Trust Corp now owns 77,304 shares of the asset manager’s stock valued at $1,422,000 after acquiring an additional 3,751 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Silvercrest Asset Management Group by 1.1% during the fourth 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 period. Finally, Gamco Investors INC. ET AL increased its stake 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 acquiring an additional 1,000 shares during the period. 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.