Silvercrest Asset Management Group (NASDAQ:SAMG – Get Free Report) issued its earnings results on Thursday. The asset manager reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.10), Zacks reports. Silvercrest Asset Management Group had a net margin of 7.09% and a return on equity of 12.48%. The company had revenue of $30.99 million for the quarter, compared to analyst estimates of $30.68 million. During the same period last year, the business earned $0.34 EPS.
Silvercrest Asset Management Group Stock Down 5.7 %
Shares of SAMG traded down $0.97 during midday trading on Friday, reaching $16.12. 20,700 shares of the stock were exchanged, compared to its average volume of 40,086. The company has a market cap of $224.23 million, a price-to-earnings ratio of 16.97 and a beta of 0.85. Silvercrest Asset Management Group has a 12-month low of $13.93 and a 12-month high of $20.50. The firm has a 50 day simple moving average of $15.81 and a 200-day simple moving average of $15.74.
Silvercrest Asset Management Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.96%. This is an increase from Silvercrest Asset Management Group’s previous quarterly dividend of $0.19. Silvercrest Asset Management Group’s payout ratio is 80.00%.
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.
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