Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Crosses Below 200 Day Moving Average of $19.05

Silvercrest Asset Management Group Inc. (NASDAQ:SAMGGet Rating) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.05 and traded as low as $17.89. Silvercrest Asset Management Group shares last traded at $17.99, with a volume of 36,460 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SAMG shares. StockNews.com downgraded Silvercrest Asset Management Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Piper Sandler dropped their price target on Silvercrest Asset Management Group from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th.

Silvercrest Asset Management Group Price Performance

The firm has a 50-day moving average of $18.14 and a 200-day moving average of $19.06. The stock has a market cap of $251.24 million, a PE ratio of 7.75 and a beta of 0.79.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The asset manager reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Silvercrest Asset Management Group had a net margin of 16.66% and a return on equity of 22.97%. The company had revenue of $32.17 million during the quarter, compared to the consensus estimate of $31.24 million. During the same period in the previous year, the business earned $0.45 earnings per share. Equities analysts forecast that Silvercrest Asset Management Group Inc. will post 1.61 EPS for the current fiscal year.

Silvercrest Asset Management Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 16th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.16%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Trading of Silvercrest Asset Management Group

A number of institutional investors have recently made changes to their positions in SAMG. Acadian Asset Management LLC increased its stake in shares of Silvercrest Asset Management Group by 13.0% in the 4th quarter. Acadian Asset Management LLC now owns 5,080 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 584 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of Silvercrest Asset Management Group by 23.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,700 shares of the asset manager’s stock worth $76,000 after purchasing an additional 700 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Silvercrest Asset Management Group by 140.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock worth $28,000 after purchasing an additional 804 shares during the last quarter. HM Payson & Co. boosted its holdings in shares of Silvercrest Asset Management Group by 3.6% during the 4th quarter. HM Payson & Co. now owns 26,250 shares of the asset manager’s stock worth $451,000 after purchasing an additional 900 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Silvercrest Asset Management Group by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 37,318 shares of the asset manager’s stock worth $763,000 after purchasing an additional 1,729 shares during the last quarter. Institutional investors and hedge funds own 52.87% of the company’s stock.

About Silvercrest Asset Management Group

(Get Rating)

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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