Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded by StockNews.com to Strong-Buy

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

Separately, Piper Sandler cut their target price on shares of Silvercrest Asset Management Group from $25.00 to $24.00 and set an overweight rating on the stock in a research note on Monday, July 11th.

Silvercrest Asset Management Group Stock Up 0.1 %

NASDAQ:SAMG opened at $18.16 on Wednesday. The company has a market cap of $263.57 million, a P/E ratio of 8.04 and a beta of 0.79. Silvercrest Asset Management Group has a fifty-two week low of $14.52 and a fifty-two week high of $22.68. The firm’s 50 day moving average is $17.99 and its two-hundred day moving average is $19.00.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last posted 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%. The company had revenue of $32.17 million for the quarter, compared to analysts’ expectations of $31.24 million. During the same period in the prior year, the business earned $0.45 EPS. Research analysts forecast that Silvercrest Asset Management Group will post 1.61 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Silvercrest Asset Management Group’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, September 15th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is presently 30.09%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in Silvercrest Asset Management Group by 13.0% during the 4th quarter. Acadian Asset Management LLC now owns 5,080 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 584 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in Silvercrest Asset Management Group by 23.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,700 shares of the asset manager’s stock valued at $76,000 after purchasing an additional 700 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Silvercrest Asset Management Group by 140.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 804 shares in the last quarter. HM Payson & Co. grew its holdings in Silvercrest Asset Management Group by 3.6% during 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. Finally, Bank of New York Mellon Corp grew its holdings in Silvercrest Asset Management Group by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 37,318 shares of the asset manager’s stock worth $763,000 after acquiring an additional 1,729 shares in the last quarter. 52.87% of the stock is owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Company Profile

(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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