Silvercrest Asset Management Group (NASDAQ:SAMG) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

SAMG has been the subject of several other research reports. Wall Street Zen cut shares of Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of “Reduce”.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG stock opened at $9.98 on Tuesday. Silvercrest Asset Management Group has a fifty-two week low of $9.57 and a fifty-two week high of $16.99. The firm has a market capitalization of $118.26 million, a PE ratio of 33.27 and a beta of 0.66. The stock’s 50-day simple moving average is $10.69 and its 200-day simple moving average is $12.95.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its 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 10.51%. The firm had revenue of $31.41 million during the quarter, compared to analysts’ expectations of $31.85 million. Sell-side analysts forecast that Silvercrest Asset Management Group will post 0.53 earnings per share for the current year.

Silvercrest Asset Management Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.4%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 280.00%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after buying an additional 798 shares during the period. Wells Fargo & Company MN lifted its holdings in Silvercrest Asset Management Group by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after acquiring an additional 1,702 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Silvercrest Asset Management Group by 1,200.0% in the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 8,652 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Silvercrest Asset Management Group in the second quarter worth approximately $167,000. Finally, Cetera Investment Advisers acquired a new stake in Silvercrest Asset Management Group during the first quarter worth $192,000. 47.59% of the stock is owned by hedge funds and other institutional investors.

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.