Silvercrest Asset Management Group (NASDAQ:SAMG) Releases Quarterly Earnings Results, Hits Expectations

Silvercrest Asset Management Group (NASDAQ:SAMG) issued its quarterly earnings data on Thursday. The asset manager reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10, FiscalAI reports. The business had revenue of $30.78 million for the quarter, compared to analyst estimates of $30.90 million. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%.

Silvercrest Asset Management Group Stock Performance

Shares of NASDAQ SAMG traded down $0.08 during trading hours on Thursday, reaching $9.90. 53,972 shares of the stock were exchanged, compared to its average volume of 51,899. The firm has a market capitalization of $117.31 million, a price-to-earnings ratio of 33.00 and a beta of 0.66. The stock’s fifty day simple moving average is $10.65 and its 200 day simple moving average is $12.91. Silvercrest Asset Management Group has a 52 week low of $9.57 and a 52 week high of $16.99.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, June 12th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.84 annualized dividend and a dividend yield of 8.5%. Silvercrest Asset Management Group’s dividend payout ratio is presently 280.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SAMG shares. Weiss Ratings cut Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 27th. Zacks Research raised Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen lowered Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Silvercrest Asset Management Group presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Silvercrest Asset Management Group by 64.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 798 shares during the period. Wells Fargo & Company MN increased its stake in Silvercrest Asset Management Group by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock worth $117,000 after acquiring an additional 1,702 shares during the period. BNP Paribas Financial Markets raised its holdings in Silvercrest Asset Management Group by 1,200.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 8,652 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter valued at $167,000. Finally, Jane Street Group LLC acquired a new position in shares of Silvercrest Asset Management Group in the 1st quarter valued at approximately $242,000. Institutional investors own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

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.