Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded at Zacks Research

Zacks Research upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a hold rating to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Silvercrest Asset Management Group Trading Up 0.2%

Shares of SAMG opened at $13.34 on Wednesday. The business’s 50-day moving average price is $14.76 and its 200 day moving average price is $14.85. The stock has a market capitalization of $157.28 million, a P/E ratio of 25.17 and a beta of 0.71. Silvercrest Asset Management Group has a 1-year low of $13.00 and a 1-year high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its earnings results on Monday, March 16th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.05). The firm had revenue of $31.96 million for the quarter, compared to analyst estimates of $32.06 million. Silvercrest Asset Management Group had a net margin of 3.90% and a return on equity of 11.99%.

Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 13th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.3%. The ex-dividend date was Friday, March 13th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 158.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in Silvercrest Asset Management Group by 64.8% during the fourth 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. Ritholtz Wealth Management boosted its holdings in shares of Silvercrest Asset Management Group by 5.3% during the 3rd quarter. Ritholtz Wealth Management now owns 19,144 shares of the asset manager’s stock worth $302,000 after buying an additional 963 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Silvercrest Asset Management Group by 5.6% during the 4th quarter. Clearstead Advisors LLC now owns 23,991 shares of the asset manager’s stock worth $364,000 after buying an additional 1,279 shares during the period. JPMorgan Chase & Co. grew its stake in Silvercrest Asset Management Group by 9.3% in the 3rd 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 during the last quarter. Finally, Wells Fargo & Company MN grew its stake in Silvercrest Asset Management Group by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after buying an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.