Silvercrest Asset Management Group Inc. $SAMG Shares Sold by Keeley Teton Advisors LLC

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 cut its holdings in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 1.56% of Silvercrest Asset Management Group worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Silvercrest Asset Management Group by 72.7% during the 4th quarter. JPMorgan Chase & Co. now owns 35,583 shares of the asset manager's stock valued at $654,000 after acquiring an additional 14,978 shares during the period. Wells Fargo & Company MN boosted its holdings in 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 valued at $103,000 after acquiring an additional 1,236 shares during the period. Barclays PLC boosted its holdings in Silvercrest Asset Management Group by 6.0% during the 4th quarter. Barclays PLC now owns 32,663 shares of the asset manager's stock valued at $601,000 after acquiring an additional 1,849 shares during the period. Dimensional Fund Advisors LP boosted its holdings in 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 valued at $3,839,000 after acquiring an additional 2,175 shares during the period. Finally, Northern Trust Corp boosted its holdings in Silvercrest Asset Management Group by 5.1% during the 4th quarter. Northern Trust Corp now owns 77,304 shares of the asset manager's stock valued at $1,422,000 after acquiring an additional 3,751 shares during the period. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Stock Performance

SAMG stock traded down $0.08 during mid-day trading on Friday, reaching $16.39. The company had a trading volume of 17,741 shares, compared to its average volume of 23,904. The company has a market capitalization of $205.97 million, a price-to-earnings ratio of 18.63 and a beta of 0.85. The firm has a fifty day simple moving average of $16.36 and a 200 day simple moving average of $16.04. Silvercrest Asset Management Group Inc. has a fifty-two week low of $13.54 and a fifty-two week high of $19.20.

Silvercrest Asset Management Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 12th will be given a dividend of $0.21 per share. This is a boost 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 annualized dividend and a dividend yield of 5.1%. Silvercrest Asset Management Group's dividend payout ratio is 95.45%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Silvercrest Asset Management Group from a "strong-buy" rating to a "buy" rating in a report 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.