Bank of New York Mellon Corp Has $404,000 Holdings in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Bank of New York Mellon Corp boosted its holdings in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,716 shares of the asset manager’s stock after acquiring an additional 775 shares during the quarter. Bank of New York Mellon Corp owned 0.18% of Silvercrest Asset Management Group worth $404,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Silvercrest Asset Management Group by 12.0% during the 4th quarter. Bank of America Corp DE now owns 29,825 shares of the asset manager’s stock worth $548,000 after acquiring an additional 3,185 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Silvercrest Asset Management Group during the 4th quarter valued at about $1,197,000. Wells Fargo & Company MN lifted its holdings in shares of Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Silvercrest Asset Management Group by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock valued at $3,839,000 after buying an additional 2,175 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Silvercrest Asset Management Group by 6.0% during the 4th quarter. Barclays PLC now owns 32,663 shares of the asset manager’s stock valued at $601,000 after buying an additional 1,849 shares during the last quarter. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Price Performance

Shares of Silvercrest Asset Management Group stock opened at $16.30 on Tuesday. The firm has a market cap of $218.58 million, a price-to-earnings ratio of 18.52 and a beta of 0.85. Silvercrest Asset Management Group Inc. has a 52-week low of $13.54 and a 52-week high of $19.20. The stock has a 50-day simple moving average of $15.67 and a 200-day simple moving average of $16.28.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its earnings results on Thursday, May 8th. The asset manager reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Silvercrest Asset Management Group had a return on equity of 12.03% and a net margin of 6.63%. The company had revenue of $31.39 million during the quarter, compared to analyst estimates of $33.21 million.

Silvercrest Asset Management Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 12th will be issued a $0.21 dividend. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, September 12th. This represents a $0.84 annualized dividend and a yield of 5.2%. Silvercrest Asset Management Group’s dividend payout ratio is presently 90.91%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Silvercrest Asset Management Group from a “strong-buy” rating to a “buy” rating in a report on Monday, May 12th.

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.