Silvercrest Asset Management Group (NASDAQ:SAMG) Raised to “Strong-Buy” 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 report published on Wednesday.

Silvercrest Asset Management Group Stock Down 3.0 %

Shares of SAMG stock opened at $17.10 on Wednesday. The stock has a fifty day moving average of $18.13 and a 200 day moving average of $17.64. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The firm has a market capitalization of $237.09 million, a price-to-earnings ratio of 21.38 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.68%. The ex-dividend date is Friday, March 14th. Silvercrest Asset Management Group’s dividend payout ratio is currently 79.21%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares during the period. R Squared Ltd purchased a new position in shares of Silvercrest Asset Management Group in the 4th quarter worth about $122,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after purchasing an additional 3,446 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Silvercrest Asset Management Group by 72.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock worth $365,000 after purchasing an additional 8,313 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Silvercrest Asset Management Group by 5.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock worth $368,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other 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.