Silvercrest Asset Management Group (NASDAQ:SAMG) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Separately, Weiss Ratings lowered shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Silvercrest Asset Management Group presently has an average rating of “Reduce”.

Silvercrest Asset Management Group Trading Down 5.3%

NASDAQ:SAMG opened at $12.56 on Monday. The firm has a market capitalization of $148.08 million, a price-to-earnings ratio of 41.87 and a beta of 0.69. The firm’s fifty day simple moving average is $13.70 and its 200 day simple moving average is $14.41. Silvercrest Asset Management Group has a twelve month low of $12.49 and a twelve month high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The business had revenue of $31.41 million for the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.16%. On average, analysts predict that Silvercrest Asset Management Group will post 1.53 earnings per share for the current year.

Silvercrest Asset Management Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 12th will be issued a $0.21 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.84 dividend on an annualized basis and a yield of 6.7%. Silvercrest Asset Management Group’s payout ratio is currently 158.49%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently added to or reduced their stakes in SAMG. Russell Investments Group Ltd. raised its stake in shares of Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 798 shares in the last quarter. Wells Fargo & Company MN raised its stake in Silvercrest Asset Management Group by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock worth $117,000 after acquiring an additional 1,702 shares during the period. BNP Paribas Financial Markets grew its position in Silvercrest Asset Management Group by 1,200.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after purchasing an additional 8,652 shares during the last quarter. Engineers Gate Manager LP bought a new position in Silvercrest Asset Management Group in the 2nd quarter worth about $167,000. Finally, Jane Street Group LLC acquired a new stake in shares of Silvercrest Asset Management Group in the 1st quarter worth approximately $242,000. Institutional investors and hedge funds own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, 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.