Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to Buy at 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 note published on Saturday.

Silvercrest Asset Management Group Stock Down 3.4 %

Shares of NASDAQ:SAMG opened at $14.91 on Friday. The company’s fifty day moving average is $17.53 and its 200 day moving average is $17.68. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The stock has a market cap 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 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 company had revenue of $31.96 million during the quarter, compared to the consensus estimate 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Friday, March 14th. Silvercrest Asset Management Group’s dividend payout ratio is 79.21%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Silvercrest Asset Management Group by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock worth $3,852,000 after acquiring an additional 10,477 shares during the last quarter. Barclays PLC boosted its holdings 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 grew its stake in shares of 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 worth $345,000 after purchasing an additional 7,155 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Silvercrest Asset Management Group by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after purchasing an additional 9,209 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Silvercrest Asset Management Group by 12.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 1,781 shares during the period. 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.