Teton Advisors Inc. Sells 5,600 Shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Teton Advisors Inc. cut its position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 59,400 shares of the asset manager’s stock after selling 5,600 shares during the period. Teton Advisors Inc.’s holdings in Silvercrest Asset Management Group were worth $1,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SAMG. Wells Fargo & Company MN boosted 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 worth $103,000 after acquiring an additional 1,236 shares during the last quarter. R Squared Ltd bought a new stake in shares of Silvercrest Asset Management Group in the fourth quarter worth $122,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 purchasing an additional 1,781 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Silvercrest Asset Management Group by 72.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 8,313 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Silvercrest Asset Management Group by 5.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday.

Silvercrest Asset Management Group Stock Up 2.7 %

SAMG stock opened at $15.41 on Tuesday. The company has a market cap of $210.10 million, a price-to-earnings ratio of 19.26 and a beta of 0.80. Silvercrest Asset Management Group Inc. has a twelve month low of $13.93 and a twelve month high of $19.20. The business has a 50 day moving average price of $17.07 and a two-hundred day moving average price of $17.59.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm 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 declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Friday, March 14th. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

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.