Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Lowered by Zacks Research

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Silvercrest Asset Management Group has a consensus rating of “Reduce”.

Silvercrest Asset Management Group Price Performance

Silvercrest Asset Management Group stock opened at $12.56 on Monday. The firm has a market capitalization of $148.08 million, a PE ratio of 41.87 and a beta of 0.69. The company’s 50-day moving average is $13.70 and its 200-day moving average is $14.41. Silvercrest Asset Management Group has a fifty-two week low of $12.49 and a fifty-two week high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings results on Monday, May 11th. The asset manager reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.16%. The company had revenue of $31.41 million during the quarter, compared to analyst estimates of $31.85 million. As a group, analysts expect that Silvercrest Asset Management Group will post 1.53 EPS for the current year.

Institutional Trading of Silvercrest Asset Management Group

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in shares of Silvercrest Asset Management Group by 64.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock worth $31,000 after acquiring an additional 798 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Silvercrest Asset Management Group by 5.3% during the 3rd quarter. Ritholtz Wealth Management now owns 19,144 shares of the asset manager’s stock worth $302,000 after acquiring an additional 963 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of Silvercrest Asset Management Group by 5.6% during the 4th quarter. Clearstead Advisors LLC now owns 23,991 shares of the asset manager’s stock worth $364,000 after acquiring an additional 1,279 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Silvercrest Asset Management Group by 9.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,524 shares of the asset manager’s stock worth $245,000 after acquiring an additional 1,315 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Silvercrest Asset Management Group by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock worth $117,000 after acquiring an additional 1,702 shares during the period. Institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.