Diamond Hill Capital Management LLC Investment Advisor Purchases New Shares in Silvercrest Asset Management Group Inc. $SAMG

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) in the 2nd quarter, Holdings Channel reports. The firm acquired 361,544 shares of the asset manager’s stock, valued at approximately $3,655,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SAMG. Jane Street Group LLC bought a new stake in shares of Silvercrest Asset Management Group in the 1st quarter worth about $242,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter valued at about $316,000. Marshall Wace LLP bought a new position in shares of Silvercrest Asset Management Group in the 2nd quarter valued at about $1,014,000. Gamco Investors INC. ET AL lifted its holdings in shares of Silvercrest Asset Management Group by 42.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock valued at $451,000 after acquiring an additional 8,409 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Silvercrest Asset Management Group in the 2nd quarter worth approximately $247,000. 47.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SAMG has been the topic of several analyst reports. Zacks Research raised Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Silvercrest Asset Management Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Silvercrest Asset Management Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Silvercrest Asset Management Group has an average rating of “Hold”.

Silvercrest Asset Management Group Trading Down 0.2%

NASDAQ SAMG opened at $10.16 on Tuesday. The stock has a market cap of $120.40 million, a PE ratio of 92.37 and a beta of 0.65. The company’s 50-day moving average price is $10.37 and its 200-day moving average price is $12.45. Silvercrest Asset Management Group Inc. has a 12 month low of $9.57 and a 12 month high of $16.88.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Silvercrest Asset Management Group had a return on equity of 8.71% and a net margin of 0.72%.The firm had revenue of $30.78 million for the quarter, compared to analyst estimates of $30.90 million. As a group, sell-side analysts forecast that Silvercrest Asset Management Group Inc. will post 0.47 earnings per share for the current year.

Silvercrest Asset Management Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 11th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, September 11th. Silvercrest Asset Management Group’s payout ratio is currently 763.64%.

About Silvercrest Asset Management Group

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.