Silvercrest Asset Management Group (NASDAQ:SAMG) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Silvercrest Asset Management Group (NASDAQ:SAMG – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the asset manager’s stock.

Separately, Piper Sandler raised their price target on Silvercrest Asset Management Group from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Monday, March 6th.

Silvercrest Asset Management Group Price Performance

NASDAQ SAMG opened at $16.30 on Thursday. Silvercrest Asset Management Group has a 1-year low of $14.94 and a 1-year high of $22.68. The company has a market capitalization of $229.83 million, a P/E ratio of 8.49 and a beta of 0.83. The business has a 50 day moving average price of $18.25 and a 200 day moving average price of $18.05.

Silvercrest Asset Management Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 10th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.42%. The ex-dividend date was Thursday, March 9th. Silvercrest Asset Management Group’s payout ratio is 37.50%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Several hedge funds have recently bought and sold shares of SAMG. JPMorgan Chase & Co. boosted its holdings in shares of Silvercrest Asset Management Group by 140.6% during the first quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock worth $28,000 after purchasing an additional 804 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Silvercrest Asset Management Group by 2,221.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,321 shares of the asset manager’s stock worth $38,000 after purchasing an additional 2,221 shares during the last quarter. Denali Advisors LLC boosted its holdings in shares of Silvercrest Asset Management Group by 36.8% during the fourth quarter. Denali Advisors LLC now owns 2,600 shares of the asset manager’s stock worth $49,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Silvercrest Asset Management Group during the third quarter worth $51,000. Finally, Citigroup Inc. boosted its holdings in shares of Silvercrest Asset Management Group by 122.0% during the fourth quarter. Citigroup Inc. now owns 3,417 shares of the asset manager’s stock worth $64,000 after purchasing an additional 1,878 shares during the last quarter. Hedge funds and other institutional investors own 49.18% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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Silvercrest Asset Management Group, Inc operates as a wealth management firm. The firm provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. It also offers portfolio, equity, and fixed income management and outsourced investment services.