Silvercrest Asset Management Group (NASDAQ:SAMG) Major Shareholder Equinox Partners Investment Ma Buys 3,322 Shares of Company Stock

Key Points

• Equinox Partners Investment Management purchased 3,322 Silvercrest shares for $34,615, increasing its stake to 833,799 shares. The shareholder had also bought more than 30,000 shares in several transactions earlier in October.
• Silvercrest shares fell 4.8% to $10.12, near the midpoint of their 52-week range, while the company’s latest quarterly results matched analysts’ earnings expectations but slightly missed revenue estimates.
• The company’s $0.21 quarterly dividend implies an annualized yield of approximately 8.3%, though its reported payout ratio is exceptionally high at 763.64%; analysts’ average rating remains “Reduce.”

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) major shareholder Equinox Partners Investment Ma purchased 3,322 shares of the firm's stock in a transaction that occurred on Thursday, October 22nd. The stock was bought at an average price of $10.42 per share, for a total transaction of $34,615.24. Following the purchase, the insider owned 833,799 shares in the company, valued at $8,688,185.58. The trade was a 0.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, October 21st, Equinox Partners Investment Ma purchased 14,744 shares of Silvercrest Asset Management Group stock. The stock was bought at an average cost of $10.33 per share, for a total transaction of $152,305.52.
• On Tuesday, October 20th, Equinox Partners Investment Ma acquired 10,368 shares of Silvercrest Asset Management Group stock. The shares were bought at an average price of $10.24 per share, with a total value of $106,168.32.
• On Thursday, October 15th, Equinox Partners Investment Ma acquired 5,692 shares of Silvercrest Asset Management Group stock. The shares were purchased at an average price of $10.47 per share, with a total value of $59,595.24.

Silvercrest Asset Management Group Trading Down 4.8%

Shares of NASDAQ:SAMG traded down $0.51 during trading on Friday, reaching $10.12. 75,926 shares of the stock were exchanged, compared to its average volume of 54,403. Silvercrest Asset Management Group Inc. has a 12 month low of $9.09 and a 12 month high of $16.16. The stock has a 50-day moving average price of $10.13 and a 200-day moving average price of $10.97. The firm has a market cap of $119.92 million, a PE ratio of 92.01 and a beta of 0.64.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its earnings results on Friday, July 31st. The asset manager reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $30.78 million for the quarter, compared to analyst estimates of $30.90 million. Silvercrest Asset Management Group had a return on equity of 8.71% and a net margin of 0.72%. On average, sell-side analysts expect that Silvercrest Asset Management Group Inc. will post 0.47 earnings per share for the current fiscal year.

Silvercrest Asset Management Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 11th were paid a $0.21 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.84 annualized dividend and a yield of 8.3%. Silvercrest Asset Management Group's payout ratio is 763.64%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research upgraded Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Weiss Ratings cut shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen raised shares of Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce".

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SAMG. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Silvercrest Asset Management Group during the second quarter worth approximately $3,655,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Silvercrest Asset Management Group in the first quarter valued at approximately $3,293,000. North Star Investment Management Corp. acquired a new stake in shares of Silvercrest Asset Management Group in the first quarter valued at approximately $1,478,000. Ancora Advisors LLC bought a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at approximately $28,000. Finally, Cetera Investment Advisers bought a new stake in shares of Silvercrest Asset Management Group in the first quarter valued at approximately $192,000. Institutional investors and hedge funds own 47.59% of the company's stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group, Inc is a wealth management and investment advisory firm serving high-net-worth individuals, families, family offices, foundations, endowments and other institutional clients. The company provides customized portfolio management and broader wealth planning services designed to address clients' investment, tax, estate and philanthropic objectives.

Silvercrest offers investment strategies across publicly traded equities, fixed income and alternative investments.

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