Ritholtz Wealth Management Buys New Holdings in Silvercrest Asset Management Group Inc. $SAMG

Key Points

• Ritholtz Wealth Management acquired a new stake in Silvercrest Asset Management Group, purchasing 18,181 shares valued at approximately $288,000 during the second quarter.
• Silvercrest recently announced an increase in its quarterly dividend to $0.21 per share, reflecting a dividend yield of 5.8% and a dividend payout ratio of 95.45%.
• Silvercrest Asset Management reported a net margin of 6.63% and an earnings per share (EPS) of $0.30 for the most recent quarter, meeting analysts' expectations.

Ritholtz Wealth Management bought a new stake in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,181 shares of the asset manager's stock, valued at approximately $288,000. Ritholtz Wealth Management owned approximately 0.14% of Silvercrest Asset Management Group at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Jane Street Group LLC purchased a new stake in Silvercrest Asset Management Group in the first quarter worth about $242,000. R Squared Ltd lifted 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 period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Silvercrest Asset Management Group by 7.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock worth $289,000 after buying an additional 1,211 shares during the period. Nuveen LLC purchased a new stake in Silvercrest Asset Management Group in the first quarter worth about $331,000. Finally, Hsbc Holdings PLC lifted its holdings in Silvercrest Asset Management Group by 10.3% in the first quarter. Hsbc Holdings PLC now owns 22,351 shares of the asset manager's stock worth $368,000 after buying an additional 2,092 shares during the period. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Silvercrest Asset Management Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Silvercrest Asset Management Group currently has an average rating of "Hold".

Silvercrest Asset Management Group Stock Performance

SAMG stock opened at $14.51 on Tuesday. The firm has a 50 day moving average price of $15.84 and a 200-day moving average price of $15.60. Silvercrest Asset Management Group Inc. has a 52-week low of $13.54 and a 52-week high of $19.20. The firm has a market capitalization of $182.39 million, a price-to-earnings ratio of 16.49 and a beta of 0.75.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Silvercrest Asset Management Group had a net margin of 6.63% and a return on equity of 12.03%. The firm had revenue of $30.67 million during the quarter, compared to analyst estimates of $30.77 million.

Silvercrest Asset Management Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 12th were issued a dividend of $0.21 per share. The ex-dividend date was 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 5.8%. Silvercrest Asset Management Group's dividend payout ratio (DPR) is 95.45%.

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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