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

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

Silvercrest Asset Management Group Stock Down 0.2 %

SAMG opened at $16.47 on Friday. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The firm has a 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $17.68. The company has a market capitalization of $224.55 million, a PE ratio of 20.59 and a beta of 0.84.

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

Silvercrest Asset Management Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, March 14th. Silvercrest Asset Management Group’s payout ratio is 79.21%.

Institutional Trading of Silvercrest Asset Management Group

A number of large investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in Silvercrest Asset Management Group by 28.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after acquiring an additional 1,236 shares in the last quarter. R Squared Ltd bought a new stake in shares of Silvercrest Asset Management Group in the 4th quarter valued at approximately $122,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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. Jane Street Group LLC increased its position in shares of 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 valued at $345,000 after purchasing an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Silvercrest Asset Management Group by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after buying an additional 9,209 shares during the period. 47.59% of the stock is currently owned by institutional investors.

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.