StockNews.com Downgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Buy

StockNews.com cut shares of Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) from a strong-buy rating to a buy rating in a research note published on Thursday.

Separately, Piper Sandler lowered their target price on shares of Silvercrest Asset Management Group from $25.00 to $24.00 and set an overweight rating for the company in a report on Monday, July 11th.

Silvercrest Asset Management Group Price Performance

Shares of SAMG opened at $17.51 on Thursday. Silvercrest Asset Management Group has a one year low of $15.04 and a one year high of $22.68. The company has a 50-day simple moving average of $18.14 and a two-hundred day simple moving average of $19.06. The firm has a market capitalization of $254.14 million, a PE ratio of 7.75 and a beta of 0.79.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The asset manager reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Silvercrest Asset Management Group had a return on equity of 22.97% and a net margin of 16.66%. The company had revenue of $32.17 million during the quarter, compared to analysts’ expectations of $31.24 million. During the same quarter last year, the business earned $0.45 earnings per share. Analysts expect that Silvercrest Asset Management Group will post 1.61 EPS for the current fiscal year.

Silvercrest Asset Management Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 16th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.11%. This is a positive change from Silvercrest Asset Management Group’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, September 15th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is presently 31.86%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Several large investors have recently made changes to their positions in SAMG. Long Path Partners Fund LP raised its holdings in Silvercrest Asset Management Group by 29.9% in the 1st quarter. Long Path Partners Fund LP now owns 370,500 shares of the asset manager’s stock worth $7,577,000 after acquiring an additional 85,274 shares during the last quarter. EAM Investors LLC purchased a new position in Silvercrest Asset Management Group in the 1st quarter worth approximately $1,380,000. State Street Corp raised its holdings in Silvercrest Asset Management Group by 289.3% in the 2nd quarter. State Street Corp now owns 90,377 shares of the asset manager’s stock worth $1,483,000 after acquiring an additional 67,163 shares during the last quarter. Northern Trust Corp raised its holdings in Silvercrest Asset Management Group by 418.8% in the 2nd quarter. Northern Trust Corp now owns 82,778 shares of the asset manager’s stock worth $1,359,000 after acquiring an additional 66,823 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Silvercrest Asset Management Group in the 2nd quarter worth approximately $489,000. 52.87% of the stock is currently owned by hedge funds and other institutional investors.

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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