Silvercrest Asset Management Group (NASDAQ:SAMG) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Silvercrest Asset Management Group Stock Performance

Silvercrest Asset Management Group stock opened at $16.65 on Thursday. The firm has a market cap of $227.01 million, a PE ratio of 20.81 and a beta of 0.84. The firm’s 50 day moving average price is $17.96 and its two-hundred day moving average price is $17.65. Silvercrest Asset Management Group has a twelve month low of $13.93 and a twelve month high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). The company had revenue of $31.96 million during the quarter, compared to analyst estimates 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.80%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 79.21%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL increased its stake in shares of Silvercrest Asset Management Group by 5.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock worth $368,000 after purchasing an additional 1,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after purchasing an additional 1,236 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 worth $302,000 after purchasing an additional 1,781 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Silvercrest Asset Management Group by 1.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock worth $2,312,000 after purchasing an additional 1,781 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Silvercrest Asset Management Group by 6.0% during the 4th quarter. Barclays PLC now owns 32,663 shares of the asset manager’s stock worth $601,000 after purchasing an additional 1,849 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.