Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded at StockNews.com

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

Silvercrest Asset Management Group Stock Performance

NASDAQ SAMG opened at $16.47 on Friday. The company’s 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $17.70. Silvercrest Asset Management Group has a one year low of $13.93 and a one year high of $19.20. The company has a market capitalization of $224.55 million, a price-to-earnings ratio of 20.59 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share (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 analysts’ expectations 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 disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Friday, March 14th. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of large investors have recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC purchased a new position in shares of Silvercrest Asset Management Group in the 4th quarter worth approximately $1,197,000. JPMorgan Chase & Co. grew its holdings in Silvercrest Asset Management Group by 72.7% in the fourth quarter. JPMorgan Chase & Co. now owns 35,583 shares of the asset manager’s stock worth $654,000 after purchasing an additional 14,978 shares during the last quarter. Martingale Asset Management L P increased its position in shares of 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 purchasing an additional 11,818 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 10,477 shares during 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 worth $531,000 after purchasing an additional 10,110 shares in the last quarter. 47.59% of the stock is currently owned by 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.