Piper Sandler Trims Silvercrest Asset Management Group (NASDAQ:SAMG) Target Price to $21.00

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) had its price objective decreased by equities research analysts at Piper Sandler from $24.00 to $21.00 in a note issued to investors on Monday, The Fly reports. The brokerage currently has a “maintains” rating on the asset manager’s stock. Piper Sandler’s price objective suggests a potential upside of 21.04% from the stock’s current price.

Separately, StockNews.com raised Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 18th.

Silvercrest Asset Management Group Stock Performance

SAMG traded down $0.87 during trading on Monday, reaching $17.35. The company had a trading volume of 1,002 shares, compared to its average volume of 52,775. The firm’s 50-day simple moving average is $18.03 and its 200 day simple moving average is $18.69. The company has a market cap of $250.88 million, a price-to-earnings ratio of 7.78 and a beta of 0.81. Silvercrest Asset Management Group has a 12-month low of $14.52 and a 12-month high of $22.68.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The asset manager reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Silvercrest Asset Management Group had a return on equity of 22.97% and a net margin of 16.66%. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts expect that Silvercrest Asset Management Group will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp lifted its holdings in Silvercrest Asset Management Group by 560.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 3,300 shares of the asset manager’s stock worth $54,000 after purchasing an additional 2,800 shares during the last quarter. Strs Ohio acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth approximately $405,000. Dorsey Wright & Associates acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth approximately $34,000. Denali Advisors LLC acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth approximately $31,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Silvercrest Asset Management Group by 30.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 16,477 shares of the asset manager’s stock worth $270,000 after purchasing an additional 3,857 shares during the last quarter. 45.97% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Company Profile

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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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