Silvercrest Asset Management Group (NASDAQ:SAMG) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Silvercrest Asset Management Group (NASDAQ:SAMGFree Report) from a hold rating to a strong sell rating in a research note released on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Read Our Latest Report on Silvercrest Asset Management Group

Silvercrest Asset Management Group Stock Down 1.8%

Shares of NASDAQ:SAMG opened at $10.11 on Monday. The firm has a market cap of $119.80 million, a P/E ratio of 33.70 and a beta of 0.64. Silvercrest Asset Management Group has a 12 month low of $10.01 and a 12 month high of $16.99. The company’s 50-day moving average price is $11.81 and its two-hundred day moving average price is $13.69.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Free Report) last announced its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%.The company had revenue of $31.41 million during the quarter, compared to the consensus estimate of $31.85 million. As a group, equities analysts predict that Silvercrest Asset Management Group will post 0.53 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were given a dividend of $0.21 per share. The ex-dividend date was Friday, June 12th. This represents a $0.84 dividend on an annualized basis and a yield of 8.3%. Silvercrest Asset Management Group’s dividend payout ratio is presently 280.00%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Institutional investors have recently modified their holdings of the business. Punch & Associates Investment Management Inc. bought a new stake in shares of Silvercrest Asset Management Group during the first quarter worth approximately $3,293,000. Renaissance Technologies LLC boosted its stake in Silvercrest Asset Management Group by 3.0% in the first quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager’s stock valued at $2,174,000 after acquiring an additional 4,700 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Silvercrest Asset Management Group by 12.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager’s stock worth $397,000 after acquiring an additional 3,191 shares during the period. Cetera Investment Advisers acquired a new stake in Silvercrest Asset Management Group during the 1st quarter worth $192,000. Finally, North Star Investment Management Corp. bought a new stake in shares of Silvercrest Asset Management Group during the 1st quarter valued at $1,478,000. Institutional investors and hedge funds own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

(Get Free Report)

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.

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