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

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 Tuesday morning.

Silvercrest Asset Management Group Price Performance

NASDAQ SAMG opened at $17.41 on Tuesday. The firm has a market capitalization of $241.39 million, a PE ratio of 21.76 and a beta of 0.82. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20. The company’s 50 day simple moving average is $18.22 and its 200 day simple moving average is $17.57.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). The business had revenue of $31.96 million during the quarter, compared to analyst estimates of $31.97 million. Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%.

Silvercrest Asset Management Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 4.60%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 100.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Royce & Associates LP grew its position in Silvercrest Asset Management Group by 6.6% during the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock worth $10,108,000 after purchasing an additional 36,063 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Silvercrest Asset Management Group by 30.8% during 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 in the last quarter. Martingale Asset Management L P grew its position in Silvercrest Asset Management Group by 111.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager’s stock worth $387,000 after purchasing an additional 11,818 shares in the last quarter. Jane Street Group LLC grew its position in Silvercrest Asset Management Group by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after purchasing an additional 7,155 shares in the last quarter. Finally, Barclays PLC grew its position in Silvercrest Asset Management Group by 48.8% during the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock worth $531,000 after purchasing an additional 10,110 shares in the last quarter. Institutional investors and hedge funds 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.