Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Silvercrest Asset Management Group Inc. provides financial advisory and related family office services to high net worth individuals and institutional investors primarily in the United States. Silvercrest Asset Management Group Inc. is headquartered in New York. “

Shares of NASDAQ SAMG opened at $17.04 on Tuesday. The business has a fifty day simple moving average of $16.52 and a two-hundred day simple moving average of $16.05. The firm has a market cap of $246.23 million, a PE ratio of 14.32 and a beta of 0.68. Silvercrest Asset Management Group has a twelve month low of $13.17 and a twelve month high of $17.66.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its earnings results on Thursday, November 4th. The asset manager reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.01). Silvercrest Asset Management Group had a return on equity of 22.60% and a net margin of 9.10%. The business had revenue of $33.46 million for the quarter, compared to analysts’ expectations of $35.63 million. During the same quarter last year, the firm earned $0.35 earnings per share. On average, equities research analysts anticipate that Silvercrest Asset Management Group will post 1.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 17th. Investors of record on Friday, December 10th were issued a $0.17 dividend. The ex-dividend date was Thursday, December 9th. This represents a $0.68 dividend on an annualized basis and a yield of 3.99%. Silvercrest Asset Management Group’s payout ratio is 57.14%.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. grew its position in Silvercrest Asset Management Group by 45.2% in the second quarter. Advisor Group Holdings Inc. now owns 2,422 shares of the asset manager’s stock worth $36,000 after acquiring an additional 754 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Silvercrest Asset Management Group by 407.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 6,317 shares of the asset manager’s stock valued at $98,000 after acquiring an additional 5,073 shares in the last quarter. Stifel Financial Corp acquired a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at $162,000. Tibra Equities Europe Ltd acquired a new stake in Silvercrest Asset Management Group in the second quarter valued at $320,000. Finally, Two Sigma Investments LP acquired a new stake in Silvercrest Asset Management Group in the third quarter valued at $378,000. Institutional investors and hedge funds own 44.34% of the company’s stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group, Inc operates as a wealth management firm. The firm provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. It also offers portfolio, equity, and fixed income management and outsourced investment services.

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