Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Announces $0.17 Quarterly Dividend

Posted by on Jun 7th, 2022

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG – Get Rating) announced a quarterly dividend on Tuesday, May 3rd, Zacks reports. Shareholders of record on Friday, June 10th will be given a dividend of 0.17 per share by the asset manager on Friday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, June 9th.

Silvercrest Asset Management Group has increased its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Silvercrest Asset Management Group has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Silvercrest Asset Management Group to earn $2.02 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 33.7%.

SAMG stock opened at $20.69 on Tuesday. Silvercrest Asset Management Group has a twelve month low of $14.20 and a twelve month high of $22.68. The company’s 50 day moving average is $20.61 and its two-hundred day moving average is $18.44. The stock has a market cap of $299.18 million, a P/E ratio of 10.19 and a beta of 0.69.

Silvercrest Asset Management Group (NASDAQ:SAMG – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The asset manager reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $33.51 million for the quarter, compared to analyst estimates of $34.75 million. Silvercrest Asset Management Group had a return on equity of 24.95% and a net margin of 14.72%. On average, equities analysts predict that Silvercrest Asset Management Group will post 1.72 EPS for the current year.

Several research analysts have issued reports on SAMG shares. Zacks Investment Research downgraded shares of Silvercrest Asset Management Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. StockNews.com raised shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 18th.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Silvercrest Asset Management Group by 140.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock worth $28,000 after acquiring an additional 804 shares during the period. UBS Group AG lifted its stake in shares of Silvercrest Asset Management Group by 44.1% in the 1st quarter. UBS Group AG now owns 8,690 shares of the asset manager’s stock worth $177,000 after acquiring an additional 2,658 shares during the period. Citigroup Inc. acquired a new stake in shares of Silvercrest Asset Management Group in the 1st quarter worth $186,000. Acadian Asset Management LLC lifted its stake in shares of Silvercrest Asset Management Group by 184.9% in the 1st quarter. Acadian Asset Management LLC now owns 14,474 shares of the asset manager’s stock worth $294,000 after acquiring an additional 9,394 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of Silvercrest Asset Management Group by 7.8% in the 4th quarter. Stifel Financial Corp now owns 18,884 shares of the asset manager’s stock worth $324,000 after acquiring an additional 1,371 shares during the period. Institutional investors own 45.97% of the company’s stock.

About Silvercrest Asset Management Group (Get Rating)

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.

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Dividend History for Silvercrest Asset Management Group (NASDAQ:SAMG)

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