Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Large Decrease in Short Interest

Key Points

• Short interest in Silvercrest Asset Management Group Inc. (SAMG) dropped by 20.1% in August, totaling 55,700 shares as of August 31st.
• The company announced a quarterly dividend increase to $0.21 per share, with a dividend yield of 5.1%, payable on September 19th.
• Approximately 47.59% of Silvercrest's stock is owned by institutional investors, with notable increases in holdings by several firms in the second quarter.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 55,700 shares, a drop of 20.1% from the August 15th total of 69,700 shares. Currently, 0.7% of the company's shares are sold short. Based on an average daily trading volume, of 36,800 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 36,800 shares, the short-interest ratio is presently 1.5 days. Currently, 0.7% of the company's shares are sold short.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC raised its holdings in Silvercrest Asset Management Group by 629.9% in the 2nd quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager's stock valued at $2,932,000 after acquiring an additional 159,555 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Silvercrest Asset Management Group by 1.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 127,009 shares of the asset manager's stock valued at $2,078,000 after acquiring an additional 1,314 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Silvercrest Asset Management Group by 5.1% in 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 last quarter. Hsbc Holdings PLC lifted its stake in shares of Silvercrest Asset Management Group by 191.9% in the 2nd quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager's stock valued at $1,045,000 after acquiring an additional 42,898 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Silvercrest Asset Management Group in the 2nd quarter valued at $1,014,000. Institutional investors own 47.59% of the company's stock.

Silvercrest Asset Management Group Price Performance

Shares of SAMG traded down $0.55 during midday trading on Friday, hitting $15.94. The stock had a trading volume of 82,882 shares, compared to its average volume of 20,658. The company has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $15.82. The firm has a market cap of $200.37 million, a price-to-earnings ratio of 18.11 and a beta of 0.81. Silvercrest Asset Management Group has a twelve month low of $13.54 and a twelve month high of $19.20.

Silvercrest Asset Management Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 12th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.3%. This is a boost from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, September 12th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is presently 95.45%.

About Silvercrest Asset Management Group

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.