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

StockNews.com upgraded shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a buy rating to a strong-buy rating in a research note issued to investors on Monday.

Silvercrest Asset Management Group Trading Up 1.0 %

Silvercrest Asset Management Group stock opened at $16.57 on Monday. The firm has a market cap of $231.81 million, a PE ratio of 20.71 and a beta of 0.83. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $18.09. The stock’s 50 day simple moving average is $16.72 and its two-hundred day simple moving average is $15.94.

Silvercrest Asset Management Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.80 annualized dividend and a yield of 4.83%. Silvercrest Asset Management Group’s dividend payout ratio is presently 100.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. First Personal Financial Services boosted its position in Silvercrest Asset Management Group by 50.0% during the second quarter. First Personal Financial Services now owns 6,000 shares of the asset manager’s stock worth $94,000 after purchasing an additional 2,000 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Silvercrest Asset Management Group by 8.9% during the 1st quarter. BNP Paribas Financial Markets now owns 8,450 shares of the asset manager’s stock valued at $134,000 after buying an additional 692 shares in the last quarter. Heron Bay Capital Management acquired a new stake in Silvercrest Asset Management Group in the 1st quarter valued at $162,000. Rhumbline Advisers increased its holdings in Silvercrest Asset Management Group by 15.7% in the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Silvercrest Asset Management Group during the second quarter worth $270,000. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.