Silvercrest Asset Management Group Inc (NASDAQ:SAMG) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.09 and last traded at $13.15, with a volume of 147 shares changing hands. The stock had previously closed at $13.31.
Separately, Sandler O’Neill restated a “buy” rating and issued a $20.00 target price on shares of Silvercrest Asset Management Group in a report on Friday, August 3rd.
The firm has a market cap of $182.95 million, a PE ratio of 12.48 and a beta of 0.87.
Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Wednesday, August 1st. The asset manager reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Silvercrest Asset Management Group had a net margin of 6.61% and a return on equity of 18.35%. The firm had revenue of $24.58 million during the quarter.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 14th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 4.21%.
In related news, Director Al Messina sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $16.84, for a total value of $168,400.00. Following the completion of the sale, the director now directly owns 205,478 shares in the company, valued at $3,460,249.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brian D. Dunn bought 1,900 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was bought at an average price of $15.23 per share, with a total value of $28,937.00. Following the completion of the acquisition, the director now owns 6,900 shares of the company’s stock, valued at approximately $105,087. The disclosure for this purchase can be found here. 10.17% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in Silvercrest Asset Management Group by 82.3% during the second quarter. Bank of America Corp DE now owns 9,049 shares of the asset manager’s stock worth $148,000 after buying an additional 4,084 shares during the period. Spark Investment Management LLC purchased a new stake in Silvercrest Asset Management Group during the second quarter worth approximately $218,000. Schwab Charles Investment Management Inc. purchased a new stake in Silvercrest Asset Management Group during the second quarter worth approximately $255,000. Acadian Asset Management LLC grew its stake in Silvercrest Asset Management Group by 22.6% during the second quarter. Acadian Asset Management LLC now owns 35,685 shares of the asset manager’s stock worth $582,000 after buying an additional 6,575 shares during the period. Finally, Northern Trust Corp grew its stake in Silvercrest Asset Management Group by 14.5% during the second quarter. Northern Trust Corp now owns 86,026 shares of the asset manager’s stock worth $1,402,000 after buying an additional 10,914 shares during the period. Hedge funds and other institutional investors own 49.71% of the company’s stock.
About Silvercrest Asset Management Group (NASDAQ:SAMG)
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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