Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded to “Strong-Buy” 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 issued to investors on Wednesday morning,Zacks.com reports.

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

Silvercrest Asset Management Group Trading Up 0.6%

NASDAQ:SAMG opened at $13.31 on Wednesday. Silvercrest Asset Management Group has a 12 month low of $13.00 and a 12 month high of $16.99. The firm’s 50 day moving average is $14.81 and its 200 day moving average is $14.87. The stock has a market capitalization of $156.92 million, a PE ratio of 25.11 and a beta of 0.71.

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

Silvercrest Asset Management Group Announces Dividend

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

Institutional Trading of Silvercrest Asset Management Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 period. Ritholtz Wealth Management raised its position in shares of Silvercrest Asset Management Group by 5.3% in the third quarter. Ritholtz Wealth Management now owns 19,144 shares of the asset manager’s stock worth $302,000 after buying an additional 963 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Silvercrest Asset Management Group by 5.6% during the fourth quarter. Clearstead Advisors LLC now owns 23,991 shares of the asset manager’s stock valued at $364,000 after buying an additional 1,279 shares during the period. JPMorgan Chase & Co. boosted its stake in Silvercrest Asset Management Group by 9.3% during 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 during the period. Finally, Wells Fargo & Company MN grew its position in Silvercrest Asset Management Group by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock worth $117,000 after buying an additional 1,702 shares in the last quarter. 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.