Russell Investments Group Ltd. Takes Position in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Russell Investments Group Ltd. purchased a new stake in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,360 shares of the asset manager’s stock, valued at approximately $297,000. Russell Investments Group Ltd. owned 0.12% of Silvercrest Asset Management Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Long Path Partners LP raised its holdings in shares of Silvercrest Asset Management Group by 26.0% in the 4th quarter. Long Path Partners LP now owns 657,065 shares of the asset manager’s stock worth $12,333,000 after purchasing an additional 135,588 shares in the last quarter. Long Path Partners Fund LP raised its position in shares of Silvercrest Asset Management Group by 29.9% during the first quarter. Long Path Partners Fund LP now owns 370,500 shares of the asset manager’s stock worth $7,577,000 after purchasing an additional 85,274 shares during the period. State Street Corp lifted its holdings in shares of Silvercrest Asset Management Group by 289.3% during the second quarter. State Street Corp now owns 90,377 shares of the asset manager’s stock valued at $1,483,000 after purchasing an additional 67,163 shares during the last quarter. Northern Trust Corp boosted its position in shares of Silvercrest Asset Management Group by 418.8% in the 2nd quarter. Northern Trust Corp now owns 82,778 shares of the asset manager’s stock valued at $1,359,000 after purchasing an additional 66,823 shares during the period. Finally, Appleton Partners Inc. MA acquired a new stake in shares of Silvercrest Asset Management Group in the first quarter worth $575,000. 48.20% of the stock is owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Trading Down 1.7 %

Shares of NASDAQ:SAMG opened at $18.95 on Tuesday. Silvercrest Asset Management Group Inc. has a 1-year low of $14.94 and a 1-year high of $23.20. The firm has a market capitalization of $263.41 million, a PE ratio of 15.41 and a beta of 0.85. The business’s 50 day moving average is $20.19 and its 200-day moving average is $19.10.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The business had revenue of $29.73 million for the quarter, compared to the consensus estimate of $29.97 million. Silvercrest Asset Management Group had a return on equity of 13.72% and a net margin of 10.09%. On average, sell-side analysts predict that Silvercrest Asset Management Group Inc. will post 1.39 EPS for the current year.

Silvercrest Asset Management Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Silvercrest Asset Management Group’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.01%. Silvercrest Asset Management Group’s dividend payout ratio is presently 58.54%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Silvercrest Asset Management Group in a report on Thursday, August 17th. They set a “buy” rating on the stock.

About Silvercrest Asset Management Group

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.