Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to Buy at StockNews.com

StockNews.com lowered shares of Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Separately, Zacks Investment Research upgraded Silvercrest Asset Management Group from a hold rating to a buy rating and set a $24.00 target price for the company in a research report on Wednesday, May 4th.

NASDAQ:SAMG opened at $19.44 on Tuesday. The stock’s 50-day simple moving average is $20.29. Silvercrest Asset Management Group has a 52 week low of $13.17 and a 52 week high of $22.68. The company has a market cap of $281.16 million, a P/E ratio of 9.58 and a beta of 0.69.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.21. The firm had revenue of $33.80 million during the quarter, compared to analyst estimates of $34.52 million. Silvercrest Asset Management Group had a net margin of 14.72% and a return on equity of 25.76%. During the same quarter in the prior year, the business posted $0.31 earnings per share. Equities research analysts anticipate that Silvercrest Asset Management Group will post 1.91 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, June 10th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, June 9th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is currently 33.50%.

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in Silvercrest Asset Management Group by 13.0% during the fourth quarter. Acadian Asset Management LLC now owns 5,080 shares of the asset manager’s stock worth $87,000 after buying an additional 584 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of 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 worth $76,000 after acquiring an additional 700 shares in the last quarter. HM Payson & Co. boosted its holdings in shares of 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 worth $451,000 after acquiring an additional 900 shares in the last quarter. Stifel Financial Corp grew its position in Silvercrest Asset Management Group by 7.8% during the 4th quarter. Stifel Financial Corp now owns 18,884 shares of the asset manager’s stock worth $324,000 after acquiring an additional 1,371 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Silvercrest Asset Management Group by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 35,887 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 1,513 shares in the last quarter. 45.97% of the stock is 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.

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