Silvercrest Asset Management Group (NASDAQ:SAMG) Posts Earnings Results, Misses Expectations By $0.05 EPS

Silvercrest Asset Management Group (NASDAQ:SAMG) announced its earnings results on Monday. The asset manager reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.05), FiscalAI reports. Silvercrest Asset Management Group had a return on equity of 11.46% and a net margin of 3.90%.The business had revenue of $31.96 million for the quarter, compared to analyst estimates of $32.06 million.

Silvercrest Asset Management Group Stock Down 5.0%

Shares of NASDAQ:SAMG opened at $13.44 on Wednesday. The company has a market cap of $164.51 million, a price-to-earnings ratio of 25.36 and a beta of 0.71. The firm’s 50-day simple moving average is $15.11 and its 200-day simple moving average is $14.99. Silvercrest Asset Management Group has a fifty-two week low of $13.17 and a fifty-two week high of $16.99.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, March 13th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 158.49%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Silvercrest Asset Management Group in the 1st quarter valued at approximately $242,000. Arrowstreet Capital Limited Partnership acquired a new position in Silvercrest Asset Management Group during the 2nd quarter worth approximately $316,000. Marshall Wace LLP purchased a new position in shares of Silvercrest Asset Management Group during the 2nd quarter worth approximately $1,014,000. Gamco Investors INC. ET AL raised its stake in shares of Silvercrest Asset Management Group by 42.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock worth $451,000 after buying an additional 8,409 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Silvercrest Asset Management Group in the 2nd quarter valued at approximately $247,000. 47.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SAMG has been the topic of several recent research reports. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.