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 report released on Thursday morning.

Silvercrest Asset Management Group Price Performance

SAMG stock opened at $16.28 on Thursday. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20. The firm has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $17.67. The firm has a market cap of $221.96 million, a PE ratio of 20.35 and a beta of 0.84.

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

Silvercrest Asset Management Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.91%. Silvercrest Asset Management Group’s dividend payout ratio is 79.21%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAMG. Wells Fargo & Company MN increased its position in Silvercrest Asset Management Group by 28.3% in 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 last quarter. R Squared Ltd acquired a new stake in shares of Silvercrest Asset Management Group in the fourth quarter valued at about $122,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Silvercrest Asset Management Group by 30.8% during 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. Jane Street Group LLC boosted its stake in Silvercrest Asset Management Group by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 7,155 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after acquiring an additional 9,209 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.

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.