361,544 Shares in Silvercrest Asset Management Group Inc. $SAMG Acquired by Diamond Hill Capital Management LLC Investment Advisor

Key Points

• Diamond Hill Capital Management acquired 361,544 shares of Silvercrest Asset Management Group, worth approximately $3.66 million and representing about 3.05% of the company. Several other institutional investors also initiated or increased positions, with institutional ownership reaching 47.59%.
• Analysts generally maintain a “Hold” consensus after Wall Street Zen, Zacks Research and Weiss Ratings upgraded their opinions from sell-oriented ratings to Hold.
• Silvercrest reported quarterly EPS of $0.10, in line with estimates, and revenue of $30.78 million. The company declared a quarterly dividend of $0.21 per share, implying an annualized yield of about 8.3%, while shares opened at $10.16 against a 52-week range of $9.57 to $16.88.

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 361,544 shares of the asset manager's stock, valued at approximately $3,655,000. Diamond Hill Capital Management LLC Investment Advisor owned about 3.05% of Silvercrest Asset Management Group at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SAMG. Jane Street Group LLC purchased a new position in shares of Silvercrest Asset Management Group in the first quarter worth approximately $242,000. Arrowstreet Capital Limited Partnership purchased a new stake in Silvercrest Asset Management Group during the second quarter valued at approximately $316,000. Marshall Wace LLP bought a new position in Silvercrest Asset Management Group in the second quarter worth approximately $1,014,000. Gamco Investors INC. ET AL raised its position in Silvercrest Asset Management Group by 42.0% in the second quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager's stock worth $451,000 after acquiring an additional 8,409 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Silvercrest Asset Management Group during the 2nd quarter worth $247,000. Institutional investors own 47.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SAMG. Wall Street Zen raised Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research raised Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised Silvercrest Asset Management Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

Silvercrest Asset Management Group Price Performance

Shares of SAMG opened at $10.16 on Tuesday. Silvercrest Asset Management Group Inc. has a 1 year low of $9.57 and a 1 year high of $16.88. The company has a 50 day simple moving average of $10.37 and a two-hundred day simple moving average of $12.45. The firm has a market cap of $120.40 million, a P/E ratio of 92.37 and a beta of 0.65.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. The firm had revenue of $30.78 million for the quarter, compared to analysts' expectations of $30.90 million. On average, sell-side analysts anticipate that Silvercrest Asset Management Group Inc. will post 0.47 earnings per share for the current year.

Silvercrest Asset Management Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 8.3%. The ex-dividend date is Friday, September 11th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is currently 763.64%.

About Silvercrest Asset Management Group

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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