Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded to Strong-Buy at StockNews.com

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

Silvercrest Asset Management Group Price Performance

Shares of NASDAQ:SAMG opened at $16.57 on Monday. Silvercrest Asset Management Group has a 1 year low of $13.93 and a 1 year high of $18.09. The firm has a market capitalization of $231.81 million, a PE ratio of 20.71 and a beta of 0.83. The business’s 50 day moving average price is $16.72 and its 200-day moving average price is $15.94.

Silvercrest Asset Management Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Friday, December 13th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 100.00%.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds have recently bought and sold shares of the business. Long Path Partners LP grew its position in shares of Silvercrest Asset Management Group by 23.8% in the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock valued at $14,667,000 after purchasing an additional 180,627 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Silvercrest Asset Management Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 522,136 shares of the asset manager’s stock worth $8,255,000 after acquiring an additional 4,756 shares during the period. Renaissance Technologies LLC boosted its position in shares of Silvercrest Asset Management Group by 11.5% during the 2nd quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock valued at $2,698,000 after acquiring an additional 17,800 shares during the last quarter. Ancora Advisors LLC lifted its stake in shares of Silvercrest Asset Management Group by 5.6% in the 1st quarter. Ancora Advisors LLC now owns 154,528 shares of the asset manager’s stock valued at $2,443,000 after purchasing an additional 8,245 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in Silvercrest Asset Management Group by 29.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 123,722 shares of the asset manager’s stock valued at $1,929,000 after purchasing an additional 28,298 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.