Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Upgraded by Zacks Investment Research

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $24.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.42% from the stock’s previous close.

According to Zacks, “Silvercrest Asset Management Group Inc. provides financial advisory and related family office services to high net worth individuals and institutional investors primarily in the United States. Silvercrest Asset Management Group Inc. is headquartered in New York. “

Separately, StockNews.com began coverage on shares of Silvercrest Asset Management Group in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock.

Shares of SAMG opened at $21.16 on Wednesday. The firm has a market cap of $305.97 million, a PE ratio of 13.92 and a beta of 0.69. The firm has a fifty day moving average price of $19.85. Silvercrest Asset Management Group has a 1 year low of $13.17 and a 1 year high of $22.68.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.21. The company had revenue of $33.80 million for the quarter, compared to analysts’ expectations of $34.52 million. Silvercrest Asset Management Group had a net margin of 11.16% and a return on equity of 25.71%. During the same period in the previous year, the company posted $0.31 EPS. As a group, sell-side analysts forecast that Silvercrest Asset Management Group will post 1.91 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. grew its stake in Silvercrest Asset Management Group by 23.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 3,700 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 700 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Silvercrest Asset Management Group in the 1st quarter valued at about $227,000. BlackRock Inc. grew its stake in Silvercrest Asset Management Group by 2.7% in the 4th quarter. BlackRock Inc. now owns 99,898 shares of the asset manager’s stock valued at $1,715,000 after acquiring an additional 2,592 shares during the last quarter. Guardian Wealth Management Inc. acquired a new stake in Silvercrest Asset Management Group in the 4th quarter valued at about $72,000. Finally, HM Payson & Co. grew its stake in Silvercrest Asset Management Group by 3.6% in the 4th quarter. HM Payson & Co. now owns 26,250 shares of the asset manager’s stock valued at $451,000 after acquiring an additional 900 shares during the last quarter. 45.97% of the stock is currently owned by hedge funds and other institutional investors.

About Silvercrest Asset Management Group (Get Rating)

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.

Further Reading

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