Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Upgraded by 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 report released on Friday morning.

Silvercrest Asset Management Group Stock Down 0.2 %

Shares of NASDAQ SAMG opened at $16.47 on Friday. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The business’s 50 day moving average price is $17.78 and its 200 day moving average price is $17.70. The firm has a market cap of $224.55 million, a P/E ratio of 20.59 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 business had revenue of $31.96 million for the quarter, compared to analyst estimates 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.86%. The ex-dividend date was Friday, March 14th. Silvercrest Asset Management Group’s dividend payout ratio is currently 79.21%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its position in 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 in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 1,236 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Silvercrest Asset Management Group by 12.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 1,781 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Silvercrest Asset Management Group by 1.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock worth $2,312,000 after buying an additional 1,781 shares in the last quarter. Finally, Barclays PLC grew its position in Silvercrest Asset Management Group by 6.0% during the fourth quarter. Barclays PLC now owns 32,663 shares of the asset manager’s stock valued at $601,000 after buying an additional 1,849 shares during the period. Institutional investors and hedge funds 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.