Bank of New York Mellon Corp Sells 17,588 Shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Bank of New York Mellon Corp cut its holdings in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,941 shares of the asset manager's stock after selling 17,588 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Silvercrest Asset Management Group worth $440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in Silvercrest Asset Management Group in the 4th quarter valued at $122,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Silvercrest Asset Management Group by 30.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager's stock valued at $253,000 after buying an additional 3,446 shares during the period. Jane Street Group LLC grew its position in Silvercrest Asset Management Group by 55.6% during the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager's stock valued at $345,000 after buying an additional 7,155 shares during the period. JPMorgan Chase & Co. raised its position in Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager's stock worth $355,000 after acquiring an additional 9,209 shares during the period. Finally, Martingale Asset Management L P raised its position in Silvercrest Asset Management Group by 111.2% in the third quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager's stock worth $387,000 after acquiring an additional 11,818 shares during the period. 47.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Silvercrest Asset Management Group from a "buy" rating to a "strong-buy" rating in a research note on Friday.

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG traded down $0.11 during trading hours on Monday, reaching $16.36. The stock had a trading volume of 43,529 shares, compared to its average volume of 27,461. The stock has a market cap of $223.05 million, a P/E ratio of 20.45 and a beta of 0.84. The stock has a 50 day simple moving average of $17.75 and a 200 day simple moving average of $17.70. Silvercrest Asset Management Group Inc. has a 12-month low of $13.93 and a 12-month high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). The firm had revenue of $31.96 million during the quarter, compared to analysts' expectations of $31.97 million. Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, March 14th. Silvercrest Asset Management Group's payout ratio is currently 79.21%.

Silvercrest Asset Management Group Company Profile

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.