Silvercrest Asset Management Group (NASDAQ:SAMG) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Silvercrest Asset Management Group (NASDAQ:SAMG) released its quarterly earnings data on Monday. The asset manager reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05), FiscalAI reports. The company had revenue of $31.96 million for the quarter, compared to analyst estimates of $32.06 million. Silvercrest Asset Management Group had a return on equity of 11.56% and a net margin of 5.28%.

Silvercrest Asset Management Group Trading Down 0.6%

Silvercrest Asset Management Group stock opened at $14.14 on Tuesday. Silvercrest Asset Management Group has a twelve month low of $13.23 and a twelve month high of $16.99. The stock has a 50 day moving average of $15.15 and a two-hundred day moving average of $15.01. The stock has a market capitalization of $173.07 million, a price-to-earnings ratio of 19.92 and a beta of 0.71.

Silvercrest Asset Management Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.84 annualized dividend and a yield of 5.9%. Silvercrest Asset Management Group’s dividend payout ratio is currently 118.31%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a report on Thursday, January 22nd. Zacks Research raised shares of Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Silvercrest Asset Management Group presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several large investors have recently modified their holdings of SAMG. Boston Partners lifted its holdings in shares of Silvercrest Asset Management Group by 9.3% during the fourth quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock worth $3,529,000 after purchasing an additional 19,753 shares during the period. Goldman Sachs Group Inc. increased its stake in Silvercrest Asset Management Group by 24.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 99,056 shares of the asset manager’s stock valued at $1,505,000 after buying an additional 19,186 shares during the period. Marshall Wace LLP acquired a new position in Silvercrest Asset Management Group in the 2nd quarter valued at $1,014,000. Bank of America Corp DE raised its position in Silvercrest Asset Management Group by 22.4% during the 2nd quarter. Bank of America Corp DE now owns 31,539 shares of the asset manager’s stock worth $500,000 after buying an additional 5,769 shares during the last quarter. Finally, Millennium Management LLC raised its position in Silvercrest Asset Management Group by 29.1% during the 3rd quarter. Millennium Management LLC now owns 29,928 shares of the asset manager’s stock worth $471,000 after buying an additional 6,753 shares during the last quarter. Hedge funds and other 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.