Cary Street Partners Financial LLC Takes $1.20 Million Position in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)

Cary Street Partners Financial LLC acquired a new stake in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 65,063 shares of the asset manager's stock, valued at approximately $1,197,000. Cary Street Partners Financial LLC owned approximately 0.47% of Silvercrest Asset Management Group as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager's stock worth $103,000 after buying an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new position in shares of Silvercrest Asset Management Group during the fourth quarter worth $122,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Silvercrest Asset Management Group by 12.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager's stock valued at $302,000 after acquiring an additional 1,781 shares in the last quarter. Jane Street Group LLC raised its stake in Silvercrest Asset Management Group by 55.6% during the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager's stock worth $345,000 after acquiring an additional 7,155 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager's stock worth $355,000 after acquiring an additional 9,209 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Silvercrest Asset Management Group from a "strong-buy" rating to a "buy" rating in a research report on Monday.

Silvercrest Asset Management Group Trading Up 0.8%

NASDAQ SAMG traded up $0.11 on Tuesday, reaching $14.55. The stock had a trading volume of 7,083 shares, compared to its average volume of 33,072. The company has a market capitalization of $198.37 million, a price-to-earnings ratio of 18.19 and a beta of 0.84. The business has a 50 day moving average price of $15.84 and a 200 day moving average price of $17.33. Silvercrest Asset Management Group Inc. has a 1 year low of $13.54 and a 1 year high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.09). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The company had revenue of $31.39 million for the quarter, compared to the consensus estimate of $33.21 million.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 5.50%. Silvercrest Asset Management Group's payout ratio is presently 84.21%.

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.