Nuveen LLC Buys New Position in Silvercrest Asset Management Group Inc. $SAMG

Key Points

• Nuveen LLC has invested approximately $331,000 in Silvercrest Asset Management Group Inc. by acquiring 20,232 shares, which represents about 0.15% ownership at the end of the last quarter.
• Several large investors, including Connor Clark & Lunn Investment Management Ltd. and R Squared Ltd, have also increased their stakes in Silvercrest during the first quarter.
• Silvercrest Asset Management Group has announced a quarterly dividend increase to $0.21, yielding 5.3%, up from the previous $0.20 per share.

Nuveen LLC acquired a new position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,232 shares of the asset manager's stock, valued at approximately $331,000. Nuveen LLC owned approximately 0.15% of Silvercrest Asset Management Group at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SAMG. Wells Fargo & Company MN raised its holdings in Silvercrest Asset Management Group by 28.3% in the fourth 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 raised its holdings in Silvercrest Asset Management Group by 126.9% in the first quarter. R Squared Ltd now owns 15,111 shares of the asset manager's stock worth $247,000 after buying an additional 8,451 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Silvercrest Asset Management Group by 7.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock valued at $289,000 after purchasing an additional 1,211 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Silvercrest Asset Management Group by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager's stock valued at $404,000 after purchasing an additional 775 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Silvercrest Asset Management Group by 12.0% during the fourth quarter. Bank of America Corp DE now owns 29,825 shares of the asset manager's stock valued at $548,000 after purchasing an additional 3,185 shares during the last quarter. 47.59% of the stock is owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG traded up $0.39 during mid-day trading on Thursday, hitting $16.30. 30,435 shares of the company traded hands, compared to its average volume of 18,207. The stock has a 50-day moving average price of $16.38 and a two-hundred day moving average price of $15.91. Silvercrest Asset Management Group Inc. has a 1 year low of $13.54 and a 1 year high of $19.20. The stock has a market cap of $204.89 million, a price-to-earnings ratio of 18.52 and a beta of 0.81.

Silvercrest Asset Management Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 12th. This is a positive change from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 5.2%. Silvercrest Asset Management Group's dividend payout ratio is presently 90.91%.

Silvercrest Asset Management Group Company Profile

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.