Silvercrest Asset Management Group (NASDAQ:SAMG) Releases Earnings Results, Misses Estimates By $0.05 EPS

Silvercrest Asset Management Group (NASDAQ:SAMG) released its quarterly earnings data on Monday. The asset manager reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05), FiscalAI reports. The firm had revenue of $31.96 million during the quarter, compared to the consensus estimate of $32.06 million. Silvercrest Asset Management Group had a net margin of 5.28% and a return on equity of 11.56%.

Silvercrest Asset Management Group Trading Down 0.6%

Shares of NASDAQ SAMG traded down $0.08 during midday trading on Monday, hitting $14.14. 26,430 shares of the company’s stock were exchanged, compared to its average volume of 29,505. The business’s fifty day moving average price is $15.18 and its two-hundred day moving average price is $15.03. The company has a market cap of $173.07 million, a price-to-earnings ratio of 19.92 and a beta of 0.71. Silvercrest Asset Management Group has a 12-month low of $13.23 and a 12-month high of $16.99.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 5.9%. Silvercrest Asset Management Group’s payout ratio is presently 118.31%.

Analyst Upgrades and Downgrades

SAMG has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Silvercrest Asset Management Group in the 1st quarter worth approximately $242,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter worth $316,000. Marshall Wace LLP bought a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter worth $1,014,000. Gamco Investors INC. ET AL grew its position in Silvercrest Asset Management Group by 42.0% in the second quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock worth $451,000 after acquiring an additional 8,409 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Silvercrest Asset Management Group in the second quarter worth $247,000. 47.59% of the stock is currently owned by institutional investors.

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.