Silvercrest Asset Management Group LLC Purchases 20,161 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

Silvercrest Asset Management Group LLC increased its stake in Inter Parfums, Inc. (NASDAQ:IPAR - Free Report) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,855 shares of the company's stock after purchasing an additional 20,161 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.29% of Inter Parfums worth $12,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Inter Parfums during the 4th quarter valued at about $39,070,000. Norges Bank bought a new position in shares of Inter Parfums in the fourth quarter worth $32,095,000. Victory Capital Management Inc. boosted its stake in Inter Parfums by 55.0% during the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company's stock valued at $74,125,000 after buying an additional 200,079 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Inter Parfums by 10.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,124,728 shares of the company's stock worth $147,913,000 after buying an additional 108,321 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Inter Parfums by 23.3% in the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company's stock worth $59,705,000 after purchasing an additional 85,871 shares during the last quarter. 55.57% of the stock is currently owned by institutional investors.

Insider Transactions at Inter Parfums

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of Inter Parfums stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $122.15, for a total value of $183,225.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BWS Financial reissued a "buy" rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, May 7th. Piper Sandler reiterated an "overweight" rating and issued a $138.00 price objective (down from $169.00) on shares of Inter Parfums in a report on Thursday, April 24th. DA Davidson reissued a "buy" rating and set a $170.00 price objective on shares of Inter Parfums in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group upped their target price on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $157.60.

Inter Parfums Trading Up 0.7%

Shares of NASDAQ IPAR traded up $0.96 during midday trading on Wednesday, reaching $131.00. The company had a trading volume of 219,099 shares, compared to its average volume of 184,501. The firm's fifty day moving average price is $113.82 and its 200-day moving average price is $127.08. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums, Inc. has a one year low of $97.65 and a one year high of $148.15. The stock has a market cap of $4.21 billion, a PE ratio of 28.11 and a beta of 1.33.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.19. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $339.00 million during the quarter, compared to analyst estimates of $329.21 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business's quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that Inter Parfums, Inc. will post 5.14 earnings per share for the current year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.44%. This is an increase from Inter Parfums's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums's dividend payout ratio is 62.26%.

Inter Parfums Company Profile

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.