Silvercrest Asset Management Group (NASDAQ:SAMG) Downgraded to Buy Rating by StockNews.com

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

Silvercrest Asset Management Group Stock Up 0.1 %

Shares of SAMG stock opened at $18.51 on Tuesday. The business has a 50-day simple moving average of $16.88 and a 200-day simple moving average of $16.04. The stock has a market cap of $256.55 million, a PE ratio of 23.14 and a beta of 0.83. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $18.69.

Silvercrest Asset Management Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.32%. Silvercrest Asset Management Group’s dividend payout ratio is currently 100.00%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently added to or reduced their stakes in the stock. HM Payson & Co. lifted its position in shares of Silvercrest Asset Management Group by 1,784.6% in the first quarter. HM Payson & Co. now owns 46,888 shares of the asset manager’s stock valued at $741,000 after acquiring an additional 44,400 shares in the last quarter. Vanguard Group Inc. increased its stake in Silvercrest Asset Management Group by 0.9% during the first 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 last quarter. Hsbc Holdings PLC purchased a new stake in Silvercrest Asset Management Group in the second quarter valued at $270,000. Long Path Partners LP lifted its position in 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 buying an additional 180,627 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in shares of Silvercrest Asset Management Group by 6.7% during the first quarter. Quadrature Capital Ltd now owns 33,242 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 2,099 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.