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

StockNews.com downgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

Silvercrest Asset Management Group Price Performance

Shares of NASDAQ:SAMG opened at $16.28 on Thursday. The stock has a market capitalization of $221.96 million, a price-to-earnings ratio of 20.35 and a beta of 0.84. The business’s fifty day moving average price is $17.93 and its two-hundred day moving average price is $17.67. Silvercrest Asset Management Group has a fifty-two week low of $13.93 and a fifty-two week high of $19.20.

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 for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%. The business had revenue of $31.96 million for the quarter, compared to analyst estimates of $31.97 million.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 payout ratio is currently 79.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Silvercrest Asset Management Group by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after acquiring an additional 10,477 shares during the last quarter. Barclays PLC raised its position in shares of Silvercrest Asset Management Group by 48.8% during the third quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock worth $531,000 after purchasing an additional 10,110 shares during the period. Jane Street Group LLC lifted its stake in Silvercrest Asset Management Group by 55.6% in the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after buying an additional 7,155 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Silvercrest Asset Management Group by 80.8% in the 3rd 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Silvercrest Asset Management Group by 30.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 3,446 shares in the last quarter. 47.59% of the stock is currently owned by institutional investors and hedge funds.

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.