StockNews.com Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Strong-Buy

StockNews.com upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG - Free Report) from a buy rating to a strong-buy rating in a research report report published on Sunday morning.

Silvercrest Asset Management Group Stock Down 1.2 %

Shares of NASDAQ:SAMG traded down $0.18 on Friday, hitting $15.03. 3,928 shares of the company traded hands, compared to its average volume of 29,956. The stock has a 50 day simple moving average of $16.94 and a 200-day simple moving average of $17.56. The company has a market cap of $204.92 million, a PE ratio of 18.80 and a beta of 0.80. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.13). The firm had revenue of $31.96 million for the quarter, compared to analysts' expectations of $31.97 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%.

Silvercrest Asset Management Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 5.32%. Silvercrest Asset Management Group's dividend payout ratio (DPR) is presently 79.21%.

Institutional Trading of Silvercrest Asset Management Group

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its position in shares of 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 last quarter. Barclays PLC boosted its holdings in shares of Silvercrest Asset Management Group by 48.8% during the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager's stock valued at $531,000 after acquiring an additional 10,110 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Silvercrest Asset Management Group by 4.9% during the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager's stock valued at $3,852,000 after purchasing an additional 10,477 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager's stock valued at $355,000 after purchasing an additional 9,209 shares during the period. Finally, R Squared Ltd purchased a new stake in Silvercrest Asset Management Group in the fourth quarter worth approximately $122,000. Institutional investors own 47.59% of the company's stock.

About Silvercrest Asset Management Group

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.