Silvercrest Asset Management Group (NASDAQ:SAMG) Posts Earnings Results, Misses Estimates By $0.09 EPS

Silvercrest Asset Management Group (NASDAQ:SAMG) announced its quarterly earnings data on Monday. The asset manager reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09), FiscalAI reports. The company 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 3.90% and a return on equity of 11.99%.

Silvercrest Asset Management Group Trading Down 0.5%

NASDAQ SAMG opened at $13.26 on Tuesday. The firm has a market cap of $156.34 million, a price-to-earnings ratio of 25.02 and a beta of 0.69. The company has a 50 day moving average of $13.76 and a 200-day moving average of $14.42. Silvercrest Asset Management Group has a 1-year low of $12.79 and a 1-year high of $16.99.

Silvercrest Asset Management Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.84 annualized dividend and a dividend yield of 6.3%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is presently 158.49%.

Institutional Trading of Silvercrest Asset Management Group

Several hedge funds have recently modified their holdings of the company. Boston Partners increased its holdings in shares of Silvercrest Asset Management Group by 9.3% during the fourth quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock worth $3,529,000 after buying an additional 19,753 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Silvercrest Asset Management Group by 24.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 99,056 shares of the asset manager’s stock worth $1,505,000 after buying an additional 19,186 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Silvercrest Asset Management Group during the second quarter worth approximately $1,014,000. Bank of America Corp DE increased its holdings in shares of Silvercrest Asset Management Group by 22.4% during the second quarter. Bank of America Corp DE now owns 31,539 shares of the asset manager’s stock worth $500,000 after buying an additional 5,769 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Silvercrest Asset Management Group by 29.1% during the third quarter. Millennium Management LLC now owns 29,928 shares of the asset manager’s stock worth $471,000 after buying an additional 6,753 shares in the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SAMG shares. Zacks Research upgraded shares of Silvercrest Asset Management Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 25th. Weiss Ratings cut shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

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.