Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded by StockNews.com to Strong-Buy Rating

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

Silvercrest Asset Management Group Stock Down 1.4 %

Shares of NASDAQ SAMG opened at $17.95 on Wednesday. The firm’s 50-day moving average price is $17.19 and its 200-day moving average price is $16.19. The company has a market cap of $248.79 million, a PE ratio of 22.44 and a beta of 0.83. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $18.77.

Silvercrest Asset Management Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, December 13th. Silvercrest Asset Management Group’s payout ratio is presently 100.00%.

Institutional Trading of Silvercrest Asset Management Group

Institutional investors have recently made changes to their positions in the stock. First Personal Financial Services boosted its holdings in shares of Silvercrest Asset Management Group by 50.0% during the 2nd quarter. First Personal Financial Services now owns 6,000 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 2,000 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Silvercrest Asset Management Group by 8.9% in the 1st quarter. BNP Paribas Financial Markets now owns 8,450 shares of the asset manager’s stock worth $134,000 after purchasing an additional 692 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after purchasing an additional 3,446 shares during the period. Rhumbline Advisers lifted its stake in shares of Silvercrest Asset Management Group by 15.7% in the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after purchasing an additional 2,072 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Silvercrest Asset Management Group in the 2nd quarter worth approximately $270,000. Hedge funds and other institutional investors own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

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.