Silvercrest Asset Management Group Inc (NASDAQ:SAMG) Announces $0.16 Quarterly Dividend

Silvercrest Asset Management Group Inc (NASDAQ:SAMG) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Friday, September 11th will be paid a dividend of 0.16 per share by the asset manager on Friday, September 18th. This represents a $0.64 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Thursday, September 10th.

Silvercrest Asset Management Group has increased its dividend by an average of 25.0% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Silvercrest Asset Management Group has a dividend payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Silvercrest Asset Management Group to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 40.3%.

SAMG stock traded down $0.30 during mid-day trading on Thursday, hitting $10.76. 653 shares of the company were exchanged, compared to its average volume of 13,267. Silvercrest Asset Management Group has a 1-year low of $6.21 and a 1-year high of $14.50. The business has a 50 day simple moving average of $12.01 and a 200-day simple moving average of $11.08. The stock has a market capitalization of $154.51 million, a PE ratio of 8.15 and a beta of 0.76.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The firm had revenue of $28.37 million during the quarter, compared to the consensus estimate of $29.21 million. Silvercrest Asset Management Group had a net margin of 11.55% and a return on equity of 15.87%. Sell-side analysts predict that Silvercrest Asset Management Group will post 1.25 earnings per share for the current year.

Several brokerages have commented on SAMG. TheStreet raised Silvercrest Asset Management Group from a “c” rating to a “b-” rating in a research note on Tuesday, June 16th. ValuEngine lowered Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Piper Sandler decreased their price target on Silvercrest Asset Management Group from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Finally, Zacks Investment Research raised shares of Silvercrest Asset Management Group from a “sell” rating to a “hold” rating in a research note on Friday, July 3rd.

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.

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

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