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

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

Silvercrest Asset Management Group Trading Down 3.4 %

Shares of NASDAQ SAMG opened at $14.91 on Friday. The firm has a fifty day simple moving average of $17.53 and a two-hundred day simple moving average of $17.68. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20. The firm has a market capitalization of $203.28 million, a PE ratio of 18.64 and a beta of 0.80.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly 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 company 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 5.37%. Silvercrest Asset Management Group’s dividend payout ratio is presently 79.21%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL boosted its holdings in shares of Silvercrest Asset Management Group by 5.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN lifted its position in 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 acquiring an additional 1,236 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Silvercrest Asset Management Group by 12.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock worth $302,000 after acquiring an additional 1,781 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Silvercrest Asset Management Group by 1.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock worth $2,312,000 after purchasing an additional 1,781 shares during the period. Finally, Barclays PLC increased its stake in shares of 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 purchasing an additional 1,849 shares in 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.