Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Short Interest Up 46.9% in September

Key Points

• Short interest in Silvercrest Asset Management Group Inc. rose by 46.9% in September, totaling 81,800 shares compared to 55,700 shares at the end of August.
• The company has increased its quarterly dividend to $0.21 per share, from the previous $0.20, representing an annualized dividend of $0.84 and a yield of 5.5%.
• Institutional investors own approximately 47.59% of the company, with notable increases in holdings from firms like Bank of New York Mellon and Hsbc Holdings PLC during the first quarter.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 81,800 shares, a growth of 46.9% from the August 31st total of 55,700 shares. Based on an average trading volume of 29,500 shares, the short-interest ratio is currently 2.8 days. Currently, 1.0% of the company's shares are sold short. Currently, 1.0% of the company's shares are sold short. Based on an average trading volume of 29,500 shares, the short-interest ratio is currently 2.8 days.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SAMG. Bank of New York Mellon Corp boosted its stake in Silvercrest Asset Management Group by 3.2% during the 1st quarter. Bank of New York Mellon Corp now owns 24,716 shares of the asset manager's stock valued at $404,000 after purchasing an additional 775 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Silvercrest Asset Management Group by 7.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,641 shares of the asset manager's stock valued at $289,000 after purchasing an additional 1,211 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Silvercrest Asset Management Group by 1.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 127,009 shares of the asset manager's stock valued at $2,078,000 after buying an additional 1,314 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Silvercrest Asset Management Group by 10.3% during the first quarter. Hsbc Holdings PLC now owns 22,351 shares of the asset manager's stock valued at $368,000 after buying an additional 2,092 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Silvercrest Asset Management Group during the second quarter worth $34,000. Institutional investors own 47.59% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Silvercrest Asset Management Group in a research report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Silvercrest Asset Management Group Price Performance

Shares of SAMG traded down $0.01 during trading hours on Tuesday, hitting $15.31. The stock had a trading volume of 5,905 shares, compared to its average volume of 41,807. Silvercrest Asset Management Group has a 1-year low of $13.54 and a 1-year high of $19.20. The firm has a market capitalization of $192.41 million, a P/E ratio of 17.41 and a beta of 0.75. The firm has a 50 day simple moving average of $16.16 and a 200-day simple moving average of $15.71.

Silvercrest Asset Management Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 12th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a positive change from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.5%. Silvercrest Asset Management Group's payout ratio is currently 95.45%.

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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