Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Shares Will Pay Quarterly Dividend of $0.21

Key Points

• Silvercrest Asset Management Group declared a quarterly dividend of $0.21 per share, payable December 18 to shareholders of record on December 11. The dividend equates to $0.84 annually and an 8.1% yield.
• The dividend appears covered by earnings, with a current payout ratio of 58.3%; analysts expect next year’s earnings of $0.99 per share versus the $0.84 annual dividend.
• Shares opened at $10.35, near the lower end of their 52-week range, while analyst sentiment remained cautious with an average “Reduce” rating. The company nevertheless beat quarterly earnings expectations, reporting $0.16 EPS versus the $0.11 consensus.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, December 11th will be given a dividend of $0.21 per share by the asset manager on Friday, December 18th. This represents a $0.84 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Friday, December 11th.

Silvercrest Asset Management Group has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Silvercrest Asset Management Group has a dividend payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Silvercrest Asset Management Group to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 84.8%.

Silvercrest Asset Management Group Stock Down 0.9%

NASDAQ:SAMG opened at $10.35 on Friday. The firm's fifty day simple moving average is $10.14 and its 200-day simple moving average is $12.03. The stock has a market cap of $122.63 million, a PE ratio of 94.10 and a beta of 0.64. Silvercrest Asset Management Group has a fifty-two week low of $9.09 and a fifty-two week high of $16.16.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The asset manager reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $32.71 million for the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. Equities analysts anticipate that Silvercrest Asset Management Group will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. Zacks Research upgraded shares of Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Silvercrest Asset Management Group has an average rating of "Reduce".

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group, Inc is an investment advisory and wealth management firm serving high-net-worth individuals, families, family offices, institutions, and charitable organizations. The company provides customized investment management and financial planning services designed to address clients' long-term wealth objectives.

Its services include portfolio management, asset allocation, manager selection, wealth planning, family office support, and advice related to trusts, estates, and other complex financial matters.

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