Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 80.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,605 shares of the asset manager’s stock after acquiring an additional 9,209 shares during the period. JPMorgan Chase & Co.’s holdings in Silvercrest Asset Management Group were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SAMG. Royce & Associates LP raised its stake in Silvercrest Asset Management Group by 6.6% during the third quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock valued at $10,108,000 after buying an additional 36,063 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Silvercrest Asset Management Group in the second quarter worth approximately $270,000. Martingale Asset Management L P grew its holdings in Silvercrest Asset Management Group by 111.2% during the third quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager’s stock worth $387,000 after acquiring an additional 11,818 shares during the period. Geode Capital Management LLC boosted its holdings in Silvercrest Asset Management Group by 4.9% during the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock worth $3,852,000 after buying an additional 10,477 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Silvercrest Asset Management Group by 48.8% in the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock valued at $531,000 after purchasing an additional 10,110 shares during the period. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG stock opened at $18.72 on Thursday. Silvercrest Asset Management Group Inc. has a 52-week low of $13.93 and a 52-week high of $19.20. The firm has a fifty day moving average of $18.17 and a 200-day moving average of $17.21. The stock has a market cap of $259.55 million, a price-to-earnings ratio of 23.40 and a beta of 0.82.

Silvercrest Asset Management Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.27%. Silvercrest Asset Management Group’s dividend payout ratio is currently 100.00%.

Silvercrest Asset Management Group 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.