Silvercrest Asset Management Group (NASDAQ:SAMG) Major Shareholder Buys $59,595.24 in Stock

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) major shareholder Equinox Partners Investment Ma acquired 5,692 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were bought at an average price of $10.47 per share, with a total value of $59,595.24. Following the completion of the purchase, the insider owned 805,365 shares in the company, valued at $8,432,171.55. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Thursday, October 22nd, Equinox Partners Investment Ma bought 3,322 shares of Silvercrest Asset Management Group stock. The stock was bought at an average cost of $10.42 per share, for a total transaction of $34,615.24.
• On Wednesday, October 21st, Equinox Partners Investment Ma bought 14,744 shares of Silvercrest Asset Management Group stock. The stock was bought at an average price of $10.33 per share, for a total transaction of $152,305.52.
• On Tuesday, October 20th, Equinox Partners Investment Ma bought 10,368 shares of Silvercrest Asset Management Group stock. The stock was bought at an average price of $10.24 per share, for a total transaction of $106,168.32.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG traded down $0.51 during midday trading on Friday, hitting $10.12. 75,926 shares of the stock traded hands, compared to its average volume of 54,403. Silvercrest Asset Management Group Inc. has a 1-year low of $9.09 and a 1-year high of $16.16. The firm has a market capitalization of $119.92 million, a PE ratio of 92.01 and a beta of 0.64. The business’s 50 day moving average price is $10.13 and its two-hundred day moving average price is $10.97.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. The business had revenue of $30.78 million during the quarter, compared to analyst estimates of $30.90 million. As a group, equities research analysts forecast that Silvercrest Asset Management Group Inc. will post 0.47 EPS for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend was Friday, September 11th. Silvercrest Asset Management Group’s payout ratio is presently 763.64%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SAMG. Wall Street Zen upgraded shares of Silvercrest Asset Management Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research raised Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings downgraded Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Silvercrest Asset Management Group has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SAMG. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Silvercrest Asset Management Group in the second quarter worth $3,655,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Silvercrest Asset Management Group during the first quarter valued at about $3,293,000. North Star Investment Management Corp. bought a new stake in shares of Silvercrest Asset Management Group during the first quarter valued at about $1,478,000. Cetera Investment Advisers bought a new stake in shares of Silvercrest Asset Management Group during the first quarter valued at about $192,000. Finally, Renaissance Technologies LLC lifted its holdings in Silvercrest Asset Management Group by 3.0% in the first quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager’s stock worth $2,174,000 after purchasing an additional 4,700 shares during the period. Institutional investors own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group, Inc is a wealth management and investment advisory firm serving high-net-worth individuals, families, family offices, foundations, endowments and other institutional clients. The company provides customized portfolio management and broader wealth planning services designed to address clients’ investment, tax, estate and philanthropic objectives.

Silvercrest offers investment strategies across publicly traded equities, fixed income and alternative investments.