Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Passes Above 50 Day Moving Average – Here’s Why

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.46 and traded as high as $15.92. Silvercrest Asset Management Group shares last traded at $15.67, with a volume of 63,525 shares changing hands.

Analyst Upgrades and Downgrades

SAMG has been the topic of a number of recent research reports. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Silvercrest Asset Management Group presently has a consensus rating of “Hold”.

Silvercrest Asset Management Group Stock Up 1.8%

The company has a market cap of $191.80 million, a price-to-earnings ratio of 22.07 and a beta of 0.68. The stock’s 50-day simple moving average is $14.46 and its 200 day simple moving average is $15.42.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its earnings results on Friday, October 31st. The asset manager reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). Silvercrest Asset Management Group had a return on equity of 11.56% and a net margin of 5.28%.The business had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $32.12 million.

Silvercrest Asset Management Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Friday, December 12th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is currently 118.31%.

Insider Buying and Selling

In other Silvercrest Asset Management Group news, Director John Allen Gray bought 5,500 shares of Silvercrest Asset Management Group stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $13.83 per share, with a total value of $76,065.00. Following the completion of the acquisition, the director owned 41,610 shares of the company’s stock, valued at approximately $575,466.30. This represents a 15.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 21,785 shares of company stock valued at $298,762. 20.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter worth approximately $34,000. BNP Paribas Financial Markets boosted its position in Silvercrest Asset Management Group by 1,200.0% during the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after purchasing an additional 8,652 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Silvercrest Asset Management Group during the second quarter worth $167,000. Jane Street Group LLC acquired a new stake in Silvercrest Asset Management Group in the first quarter valued at $242,000. Finally, JPMorgan Chase & Co. increased its position in shares of Silvercrest Asset Management Group by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 15,524 shares of the asset manager’s stock valued at $245,000 after buying an additional 1,315 shares in the last quarter. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.