Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Silvercrest Asset Management Group shares fell below their 200-day moving average, trading as low as $9.63 versus the $11.68 average and recently changing hands near $9.70.
• Analyst sentiment is cautious: Weiss Ratings downgraded the stock to “sell,” while Zacks Research and Wall Street Zen moved to “hold.” MarketBeat’s average rating is “Reduce.”
• The company declared a quarterly dividend of $0.21 per share, or $0.84 annualized, implying an 8.7% yield; however, its payout ratio is exceptionally high at 763.64%.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.68 and traded as low as $9.63. Silvercrest Asset Management Group shares last traded at $9.70, with a volume of 120,157 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SAMG shares. Weiss Ratings downgraded shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Zacks Research raised Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a 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. Based on data from MarketBeat, Silvercrest Asset Management Group currently has an average rating of "Reduce".

Silvercrest Asset Management Group Trading Down 0.5%

The stock has a market capitalization of $114.94 million, a P/E ratio of 88.19 and a beta of 0.64. The company's 50-day moving average is $10.11 and its two-hundred day moving average is $11.68.

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

Silvercrest Asset Management Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 11th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Friday, September 11th. Silvercrest Asset Management Group's payout ratio is currently 763.64%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new position in shares of Silvercrest Asset Management Group in the second quarter valued at approximately $28,000. Cetera Investment Advisers bought a new stake in Silvercrest Asset Management Group during the first quarter worth approximately $192,000. Clearstead Advisors LLC lifted its position in Silvercrest Asset Management Group by 5.6% in the fourth quarter. Clearstead Advisors LLC now owns 23,991 shares of the asset manager's stock worth $364,000 after purchasing an additional 1,279 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Silvercrest Asset Management Group by 12.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager's stock worth $397,000 after purchasing an additional 3,191 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Silvercrest Asset Management Group by 4.0% during the 4th quarter. Hsbc Holdings PLC now owns 68,026 shares of the asset manager's stock valued at $1,046,000 after purchasing an additional 2,629 shares in the last quarter. Institutional investors own 47.59% of the company's stock.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc NASDAQ: SAMG is an investment management and wealth advisory firm serving high-net-worth individuals, families, family offices, trusts, foundations and institutions. The company provides customized investment solutions designed to address clients' long-term financial objectives and wealth management needs.

Its services include discretionary portfolio management, financial planning, family office support and advice on asset allocation and alternative investments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.