Silvercrest Asset Management Group (NASDAQ:SAMG – Get Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.
Silvercrest Asset Management Group Stock Performance
Shares of NASDAQ SAMG opened at $18.20 on Wednesday. The stock has a market cap of $252.25 million, a price-to-earnings ratio of 22.75 and a beta of 0.83. The business has a 50 day simple moving average of $17.15 and a 200 day simple moving average of $16.17. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $18.77.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. HM Payson & Co. grew its position in Silvercrest Asset Management Group by 1,784.6% in the 1st quarter. HM Payson & Co. now owns 46,888 shares of the asset manager’s stock worth $741,000 after purchasing an additional 44,400 shares during the last quarter. Vanguard Group Inc. grew its position in Silvercrest Asset Management Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 522,136 shares of the asset manager’s stock worth $8,255,000 after buying an additional 4,756 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Silvercrest Asset Management Group during the second quarter worth about $270,000. Royce & Associates LP increased its stake in Silvercrest Asset Management Group by 6.6% during the third quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock valued at $10,108,000 after acquiring an additional 36,063 shares during the period. Finally, Long Path Partners LP raised its holdings in Silvercrest Asset Management Group by 23.8% in the 2nd quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock valued at $14,667,000 after acquiring an additional 180,627 shares in the last quarter. 47.59% of the stock is currently owned by institutional investors and hedge funds.
About Silvercrest Asset Management Group
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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