Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to “Buy” at StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Silvercrest Asset Management Group Price Performance

Shares of NASDAQ SAMG opened at $15.43 on Friday. The stock has a market capitalization of $210.37 million, a P/E ratio of 19.29 and a beta of 0.80. Silvercrest Asset Management Group has a one year low of $13.93 and a one year high of $19.20. The firm’s 50 day simple moving average is $17.60 and its two-hundred day simple moving average is $17.68.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Thursday, March 6th. The asset manager reported $0.20 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.13). The business had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Silvercrest Asset Management Group by 28.3% in the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after buying an additional 1,236 shares in the last quarter. R Squared Ltd bought a new position in Silvercrest Asset Management Group in the 4th quarter worth about $122,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Silvercrest Asset Management Group by 12.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock valued at $302,000 after purchasing an additional 1,781 shares during the last quarter. Jane Street Group LLC increased its stake in Silvercrest Asset Management Group by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after purchasing an additional 7,155 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after buying an additional 9,209 shares during the last quarter. Hedge funds and other institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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.