Keeley Teton Advisors LLC Decreases Stake in Silvercrest Asset Management Group Inc. $SAMG

Key Points

• Keeley Teton Advisors LLC reduced its stake in Silvercrest Asset Management Group by 6.6%, owning 1.56% of the company, worth approximately $3.49 million after selling shares in the first quarter.
• Silvercrest Asset Management Group's stock recently dropped by 1.4%, currently trading at $16.54, with a market cap of $207.91 million.
• The company announced a quarterly dividend increase to $0.21 per share, up from $0.20, reflecting a 5.1% dividend yield.

Keeley Teton Advisors LLC lessened its position in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) by 6.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 213,341 shares of the asset manager's stock after selling 15,116 shares during the quarter. Keeley Teton Advisors LLC owned approximately 1.56% of Silvercrest Asset Management Group worth $3,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased 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 purchasing an additional 1,236 shares in the last quarter. R Squared Ltd increased its stake in shares of Silvercrest Asset Management Group by 126.9% in the 1st quarter. R Squared Ltd now owns 15,111 shares of the asset manager's stock valued at $247,000 after acquiring an additional 8,451 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Silvercrest Asset Management Group by 7.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock valued at $289,000 after acquiring an additional 1,211 shares during the period. Nuveen LLC bought a new position in Silvercrest Asset Management Group during the first quarter worth $331,000. Finally, Hsbc Holdings PLC boosted its stake in Silvercrest Asset Management Group by 10.3% during the first quarter. Hsbc Holdings PLC now owns 22,351 shares of the asset manager's stock worth $368,000 after acquiring an additional 2,092 shares in the last quarter. Institutional investors and hedge funds own 47.59% of the company's stock.

Silvercrest Asset Management Group Stock Down 1.4%

Silvercrest Asset Management Group stock traded down $0.23 during midday trading on Thursday, hitting $16.47. 15,844 shares of the stock were exchanged, compared to its average volume of 24,433. Silvercrest Asset Management Group Inc. has a 52-week low of $13.54 and a 52-week high of $19.20. The business's 50-day moving average price is $16.33 and its 200-day moving average price is $16.07. The stock has a market capitalization of $207.03 million, a price-to-earnings ratio of 18.72 and a beta of 0.85.

Silvercrest Asset Management Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 12th will be issued a $0.21 dividend. This is an increase from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.1%. Silvercrest Asset Management Group's payout ratio is presently 90.91%.

Analyst Ratings Changes

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

About Silvercrest Asset Management Group

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.