Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Crosses 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 $15.21 and traded as high as $15.50. Silvercrest Asset Management Group shares last traded at $15.17, with a volume of 35,839 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have commented on SAMG shares. Zacks Research raised Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Silvercrest Asset Management Group presently has a consensus rating of “Hold”.

Silvercrest Asset Management Group Stock Down 1.7%

The firm has a market capitalization of $185.68 million, a PE ratio of 21.37 and a beta of 0.70. The business has a 50-day moving average price of $15.21 and a 200-day moving average price of $15.16.

Silvercrest Asset Management Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.5%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 118.31%.

Insider Activity at Silvercrest Asset Management Group

In other news, Director John Allen Gray purchased 15,000 shares of the stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $13.66 per share, with a total value of $204,900.00. Following the transaction, the director owned 36,110 shares in the company, valued at $493,262.60. The trade was a 71.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 21,785 shares of company stock worth $298,762. 20.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently bought and sold shares of SAMG. Russell Investments Group Ltd. boosted its holdings in Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 798 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter valued at approximately $34,000. Wells Fargo & Company MN lifted its holdings in Silvercrest Asset Management Group by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after acquiring an additional 1,702 shares during the last quarter. BNP Paribas Financial Markets grew its position in Silvercrest Asset Management Group by 1,200.0% in the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after acquiring an additional 8,652 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in Silvercrest Asset Management Group during the second quarter worth $167,000. 47.59% of the stock is owned by hedge funds and other institutional investors.

About Silvercrest Asset Management Group

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.