Silvercrest Asset Management Group Inc. $SAMG Stake Cut by Long Path Partners LP

Key Points

• Long Path Partners LP has reduced its stake in Silvercrest Asset Management Group by 3.2%, now holding 910,328 shares, which constitutes about 5.8% of its investment portfolio.
• Silvercrest recently increased its quarterly dividend from $0.20 to $0.21, representing a 5.0% yield and a payout ratio of 95.45%.
• Institutional investors own 47.59% of Silvercrest's shares, with other notable changes including a 72.7% increase in holdings by JPMorgan Chase & Co.

Long Path Partners LP cut its holdings in shares of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 910,328 shares of the asset manager's stock after selling 30,470 shares during the period. Silvercrest Asset Management Group accounts for approximately 5.8% of Long Path Partners LP's investment portfolio, making the stock its 7th biggest holding. Long Path Partners LP owned about 6.68% of Silvercrest Asset Management Group worth $14,893,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cary Street Partners Financial LLC purchased a new position in Silvercrest Asset Management Group during the 4th quarter worth $1,197,000. Nuveen LLC acquired a new stake in Silvercrest Asset Management Group in the first quarter worth about $331,000. JPMorgan Chase & Co. grew its stake in shares of Silvercrest Asset Management Group by 72.7% during the fourth quarter. JPMorgan Chase & Co. now owns 35,583 shares of the asset manager's stock worth $654,000 after acquiring an additional 14,978 shares during the last quarter. R Squared Ltd increased its holdings in shares of Silvercrest Asset Management Group by 126.9% during the first 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. Finally, Northern Trust Corp increased its holdings in shares of Silvercrest Asset Management Group by 5.1% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 47.59% of the company's stock.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG stock opened at $16.78 on Monday. Silvercrest Asset Management Group Inc. has a fifty-two week low of $13.54 and a fifty-two week high of $19.20. The firm has a market capitalization of $210.87 million, a PE ratio of 19.07 and a beta of 0.85. The stock's 50-day simple moving average is $16.17 and its 200-day simple moving average is $16.08.

Silvercrest Asset Management Group Increases Dividend

The firm 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 $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 annualized dividend and a dividend yield of 5.0%. Silvercrest Asset Management Group's payout ratio is currently 95.45%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of 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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