Punch & Associates Investment Management Inc. Decreases Stock Holdings in Silvercrest Asset Management Group Inc. $SAMG

Key Points

• Punch & Associates Investment Management Inc. has significantly reduced its stake in Silvercrest Asset Management by 46.7%, now holding approximately 1.68% of the company valued at $3.75 million.
• Silvercrest Asset Management Group has declared a quarterly dividend increase to $0.21 per share, with a 5.3% annualized yield, up from the previous $0.20 dividend.
• Recent changes in hedge fund positions include increases in stakes from firms like Bank of America and Wells Fargo, indicating ongoing investor interest in Silvercrest despite Punch's divestment.

Punch & Associates Investment Management Inc. reduced its stake in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) by 46.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,211 shares of the asset manager's stock after selling 200,669 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 1.68% of Silvercrest Asset Management Group worth $3,750,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Silvercrest Asset Management Group by 12.0% during the 4th quarter. Bank of America Corp DE now owns 29,825 shares of the asset manager's stock worth $548,000 after purchasing an additional 3,185 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Silvercrest Asset Management Group by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager's stock worth $404,000 after purchasing an additional 775 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of 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 purchasing an additional 1,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Silvercrest Asset Management Group by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager's stock worth $3,839,000 after purchasing an additional 2,175 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Silvercrest Asset Management Group during the 1st quarter worth $331,000. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Stock Performance

Silvercrest Asset Management Group stock opened at $15.82 on Friday. The stock has a 50-day moving average of $16.40 and a two-hundred day moving average of $15.95. Silvercrest Asset Management Group Inc. has a one year low of $13.54 and a one year high of $19.20. The stock has a market cap of $198.86 million, a PE ratio of 17.98 and a beta of 0.81.

Silvercrest Asset Management Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 12th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.3%. This is a boost from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. The ex-dividend date is Friday, September 12th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is 90.91%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Silvercrest Asset Management Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 12th.

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.

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