Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,418 shares of the asset manager’s stock after purchasing an additional 10,477 shares during the period. Geode Capital Management LLC owned approximately 1.61% of Silvercrest Asset Management Group worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SAMG. Long Path Partners LP boosted its holdings in Silvercrest Asset Management Group by 23.8% during the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock worth $14,667,000 after buying an additional 180,627 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Silvercrest Asset Management Group by 6.6% during the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock worth $10,108,000 after acquiring an additional 36,063 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Silvercrest Asset Management Group by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock worth $2,698,000 after acquiring an additional 17,800 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Silvercrest Asset Management Group by 29.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 123,722 shares of the asset manager’s stock worth $1,929,000 after purchasing an additional 28,298 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Silvercrest Asset Management Group by 17.0% during the second quarter. Bank of New York Mellon Corp now owns 47,454 shares of the asset manager’s stock valued at $740,000 after purchasing an additional 6,910 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th.

Silvercrest Asset Management Group Stock Performance

NASDAQ SAMG opened at $18.16 on Tuesday. The firm’s 50 day moving average price is $18.07 and its two-hundred day moving average price is $16.90. Silvercrest Asset Management Group Inc. has a twelve month low of $13.93 and a twelve month high of $19.20. The stock has a market cap of $251.79 million, a price-to-earnings ratio of 22.70 and a beta of 0.82.

Silvercrest Asset Management Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.41%. Silvercrest Asset Management Group’s dividend payout ratio is 100.00%.

Silvercrest Asset Management Group 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.