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

StockNews.com downgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

Silvercrest Asset Management Group Stock Down 1.9 %

Shares of NASDAQ SAMG opened at $18.10 on Tuesday. The stock has a market cap of $250.87 million, a PE ratio of 22.63 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. The business has a 50-day moving average price of $17.04 and a 200 day moving average price of $16.10.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.42%. Silvercrest Asset Management Group’s payout ratio is 100.00%.

Institutional Trading of Silvercrest Asset Management Group

Large investors have recently bought and sold shares of the business. Long Path Partners LP increased its stake in Silvercrest Asset Management Group by 23.8% in the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock valued at $14,667,000 after purchasing an additional 180,627 shares during the period. HM Payson & Co. grew its holdings in shares of Silvercrest Asset Management Group by 1,784.6% during the first quarter. HM Payson & Co. now owns 46,888 shares of the asset manager’s stock worth $741,000 after buying an additional 44,400 shares during the last quarter. Royce & Associates LP increased its position in Silvercrest Asset Management Group by 6.6% in the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock valued at $10,108,000 after acquiring an additional 36,063 shares during the period. Koss Olinger Consulting LLC purchased a new stake in Silvercrest Asset Management Group during the 2nd quarter valued at approximately $457,000. Finally, Diamond Hill Capital Management Inc. lifted its position in Silvercrest Asset Management Group by 29.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 123,722 shares of the asset manager’s stock worth $1,929,000 after acquiring an additional 28,298 shares during the period. 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.