Silvercrest Asset Management Group (NASDAQ:SAMG) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Silvercrest Asset Management Group Stock Down 2.9 %

Shares of SAMG opened at $17.59 on Tuesday. The company’s fifty day moving average is $18.26 and its 200-day moving average is $17.57. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20. The firm has a market cap of $243.89 million, a price-to-earnings ratio of 21.99 and a beta of 0.82.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 4.55%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 100.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SAMG. Wells Fargo & Company MN grew its stake in Silvercrest Asset Management Group by 28.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new position in Silvercrest Asset Management Group in the 4th quarter valued at $122,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,446 shares during the last quarter. Jane Street Group LLC grew its stake in Silvercrest Asset Management Group by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after buying an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Silvercrest Asset Management Group by 80.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after buying an additional 9,209 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.